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  • Yulp
  • 35 contributions

FHA UFMIP Refund and Taxes

This question might pose to a tax accounttant but wanted to hear back from anyone who might have been in the same situation earlier.
We took out a FHA loan couple of years back and as with FHA loans paid the UFMIP.
When we filed our taxes subsequently,we were told we can write off our UFMIP and we did that .
Last year,I refinanced through streamline FHA and again paid UFMIP.However,I did have some refund from my first loan which was applied to my principal amount.
My question is,how do I mention that and do I need to pay taxes for the refunded amount even though it was all absorbed
  • February 02 2011 - US
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