I have questions concerning the property’s taxes? We pd 1/2 and they pd 1/2. Do we claim the mortgage ins?

• If your property taxes are included in your monthly mortgage bill, you can deduct them after your lender has paid the tax to the assessor on your behalf. Contact your lender to find out when they submit your property tax payments (frequently this is done twice a year, but it varies among jurisdictions).
• If you're a member of a co-op, only claim your share of the amount paid by the corporation.
• If you co-own the property with others, split the deduction by what each person paid.

Can I deduct property (real estate) taxes?

You can deduct private mortgage insurance (MPI or PMI) provided you itemize and the insurance contract was issued after 2006.  Once your adjusted gross income (AGI) exceeds $100,000 ($50,000 for married filing separately) the deduction is reduced.  If your AGI surpasses $109,000 ($54,500 if married filing separately) the PMI/MIP deduction is eliminated altogether.