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Is Homeowners’ Insurance Tax Deductible?


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. Cases When You Can Deduct Homeowners’ Insurance There are two instances in which you can deduct insurance payments […]

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