The Taxpayer Certainty and Disaster Relief Act of 2019 extended the deduction for private mortgage insurance premiums (PMI or MIP) to apply to 2018 taxes. The bill was passed by Congress and signed into law in December of 2019 after many of our customers had already filed their taxes. If you already filed, you can amend to claim this benefit.
First, make sure you actually need to amend your tax return.
You don’t have to amend if any of the below apply:
- You’re married filing separately with an AGI over $54,500.
- All other filing statuses with an AGI over $109,000.
You can choose to amend if all of the below apply:
- You paid mortgage insurance premiums or private mortgage insurance on your first or second home.
- You’re itemizing on your tax return (or will be by adding this amount).
- You had an AGI under the above-listed limits.
Some states also have a tax break for mortgage insurance premiums. If you filed a state tax return and your state conforms to the federal law changes for mortgage insurance premiums, check if this applies to you and amend your state tax return as well to take this tax break.
Keep in mind: You have 3 years from the date you filed your 2018 return (or 2 years after you paid the tax due, whichever is later) to file an amended return.
- Sign in to your account.
- Scroll down to under Your tax returns & documents and select 2018.
- Select Amend (change) return.
- Open the return you want to amend.
- Before you go further, make sure your return is exactly as it was when you originally filed it.
- If you made changes after you filed or mailed, undo them. We suggest comparing your onscreen numbers with a paper copy of your filed return.
- Make an "amend" copy your return by selecting Save As (Mac - select Duplicate) from the File menu. This preserves the originally-filed return.
- Name the copy to distinguish it from the original (for example, 2018 Amended Smith B Form 1040 Return).
- You should now be working in the amend copy. Inside your program, search for “amend” and then select “Jump to amend” (on Mac you’ll be there right away).
- On the We'll help you change (amend) your return screen, select Continue.
- On the next screen, answer Yes and select the I was contacted by TurboTax… option (even if you weren’t contacted by us).
- Go through the screens and answer the questions.
- On the screen named Here are the tax extenders that may benefit you, select Revisit next to 1098 (Private Mortgage Insurance) under Your Home.
- On the Mortgage deduction summary screen, select Edit next to the mortgage lender to whom you paid private mortgage insurance or mortgage insurance premiums.
- Continue through the screens until asked about your mortgage lender on the Let’s get the details… screen.
- Fill out your 1098 info and continue to follow the instructions. Keep in mind, if you’re not getting an additional refund (the refund monitor still says $0) after you’ve entered your updated info, you don't need to file an amended return.
- When you’ve finished, we'll tell you how to print and mail your amended return, since amendments can’t be e-filed.
- Can I deduct private mortgage insurance (PMI or MIP)?
- Where can I find my 2019 (current-year) AGI?
- I filed my 2018 taxes before the Taxpayer Certainty and Disaster Tax Relief Act of 2019 passed, do I need to amend?
- How do I open my tax return in the TurboTax software I installed?
- What is the deadline for filing an amended return?