Is homeowners insurance a tax deduction?
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While your fire or homeowners' insurance premiums may be included in your property payments, they are nondeductible expenses, according to the Internal Revenue Service (IRS). You cannot itemize any payments for insurance, including fire and comprehensive coverage, and title insurance, as deductions in your tax return.
2023-05-07 23:43:59
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Amelia Brown
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While your fire or homeowners' insurance premiums may be included in your property payments, they are nondeductible expenses, according to the Internal Revenue Service (IRS). You cannot itemize any payments for insurance, including fire and comprehensive coverage, and title insurance, as deductions in your tax return.