Question

Is homeowner’s insurance tax deductible? Or can you only deduct homeowner’s insurance premiums paid on rental property?

Answer

You can only deduct homeowner’s insurance premiums paid on rental properties. Never is homeowner’s insurance tax deductible your main home.

Although you might pay them both, keep in mind that mortgage insurance and homeowner’s insurance aren’t the same thing:

  • Homeowner’s insurance protects you against loss from damage to the property.
  • Mortgage insurance protects you in case you can’t make your mortgage payments.

However, you can deduct mortgage insurance premiums on both your personal home and rental properties. Income restrictions apply to mortgage insurance premiums on your home.

Related Topics

Related Resources

Is TurboTax Live the Best Virtual Tax Prep Option?

Looking for virtual tax help with your online filing? Learn more about your options by comparing TurboTax Live to H&R Block Tax Pro Review and Tax Pro Go.

Is Your Engagement Ring Purchase Tax Deductible?

Unfortunately, the cost of your engagement ring can't be deducted as a write-off on your personal income taxes. H&R Block tax pros explain why.

Earned Income Credit

Learn more about earned income credit eligibility and get tax answers at H&R Block.

What Is Virtual Tax Preparation?

Virtual tax preparations let you complete your taxes online from the comfort of your home. Find out how easy remote tax preparations can be at H&R Block.