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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (79232)	4/10/2000 6:07:00 AM
From: Monty Lenard	Read Replies (2) \| Respond to of 132070

Sorry Skeeter, but I am not kidding. I am assuming it is on your residence?

To: Skeeter Bug who wrote (79232)	4/10/2000 11:07:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

Skeeter," my advice to those who die stick leather pennies on your eyes because i'm the taxman." and be thankful i don't take it all. mike ho ho ho

To: Skeeter Bug who wrote (79232)	4/10/2000 12:21:00 PM
From: benwood	Read Replies (2) \| Respond to of 132070

Skeeter, I read that some big tax-advisory firm was recommending to its aggressive clients to deduct PMI as a mortgage interest expense because, they reasoned (correctly, in my opinion) that PMI is a form of increased interest while the risk is higher (like high-interest rate credit cards for people who are financially borderline). The IRS hasn't been allowing it as of yet (last I heard), but this firm said they intended to use some of their risk-loving clients as a means to challenge the IRS in court. Haven't heard the progress or results in the past 12 months, though, so I'd say it would be worth a peek around. You could probably find a reference to this firm and the progress they've made with a quick internet search. Edit: here's a link to WaMu's loan that slips the PMI in as interest. Of no help to you, but a step in the right direction for the future to get around the IRS rules: mercurycenter.com