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Understanding the Tax Implications of Homeowners Insurance: What Can You Deduct?

Updated: May 3


Homeowners insurance premiums are not tax-deductible according to the Internal Revenue Service (IRS). Even if your mortgage payments include these premiums, they are still considered nondeductible expenses. This means that you cannot itemize any home insurance payments, including fire, theft, and comprehensive coverage, or title insurance on your tax return.


By DAMIAN DAVILA; Updated August 25, 2021 Reviewed by EBONY HOWARD Fact checked by YARILET PEREZ:


My Private Adjuster. WORKING FOR YOU, not the Insurance Company.
My Private Adjuster. WORKING FOR YOU, not the Insurance Company.
 
The Shelley Group Inc. | www. MyPrivateAdjuster.com
The Shelley Group Inc. | www. MyPrivateAdjuster.com


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