NLIC.org

Elmer Said:

Life Insurance premium tax exemption?

We Answered:

lifeinsurance.awardspace.info - try this one. I have their insurance and, as remember, they can provide such a service.

Wilma Said:

Is All kids insurance premium tax deductible?

We Answered:

None of them are, unless YOU are self employed.

Lonnie Said:

Can I deduct medical insurance premium in tax return?

We Answered:

The only way to deduct medical expenses of any sort is to itemize your deductions. Even then - they have to exceed 7.5% of your adjested gross income. Pretty hard to do if you make a decent amount of $ and your expenses are fairly normal.

Claire Said:

Can we take deduction of home insurance premium on tax return?

We Answered:

You can take a deduction for PMI only if you took out the mortgage in 2007.

Mortgage Insurance Premiums Treated as Home Mortgage Interest

You may be able to treat mortgage insurance premiums you paid during 2007 as home mortgage interest. The mortgage insurance must be paid in connection with home acquisition debt, the mortgage insurance contract must have been issued after 2006, and you must have paid the premiums before 2008 for coverage in effect during 2007. You can deduct mortgage insurance premiums on Schedule A (Form 1040), line 13.

Limit on deduction. If your 2007 adjusted gross income on Form 1040, line 38 is more than $100,000 ($50,000 if your filing status is married filing separately), the amount of your mortgage insurance premiums that are otherwise deductible is reduced and may be