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posted May 22, 2020 10:59:45 AM

Can I amend my 2018 tax filing to claim the mortgage insurance provision passed by congress in late 2019?

can you explain the AGI levels required in the 2018 Mortgage insurance premiums passed in late 2019 by congress?

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Expert Alumni
May 22, 2020 1:51:09 PM

Yes, you can amend your 2018 tax return to claim the mortgage insurance deduction.  In fact, if you entered the mortgage insurance premiums when you prepared your 2018 tax return, TurboTax may automatically start your amended tax return with that change.

 

Once your adjusted gross income (AGI) reaches $100,000 ($50,000 married filing separately) the deduction for mortgage insurance premiums starts to "phase out".  Once your AGI exceeds $109,000 ($54,500 MFS) you cannot deduct your mortgage insurance premiums.

 

Click this link for instructions on how to file an amended return with TurboTax.