Tax Legislation Passes Again

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Congress renewed for three years the legislation making mortgage insurance payments tax deductible for many homeowners.

Mortgage insurance premiums are once again fully deductible for taxpayers earning up to $100,000, and partially deductible for those with incomes between $100,000 and $109,000. This has not changed from last year. The only change is that the deduction now applies to policies written through the 2010 calendar year.

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