Can you deduct PMI payments in California?I am referring to monthly PMI payments, and potentially the upfront initial PMI as well. This would NOT be an FHA loan--it would be a conventional 30 yr refinance through another lender. Can this be deducted from your taxable income, similar to how you deduct mortgage interest? For the record, I have contacted the IRS and asked them about this. They said yes you can deduct, if you meet the income limits, but I am still not 100% sure since several people have told me you can't do it. Does anyone know for sure?October 03 2011 - Campbell00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.