To meet the eligibility requirements for the mortgage insurance deduction: You can only deduct qualified mortgage insurance you paid in relation to your main or second home,You must have started the mortgage insurance contract after December 31, 2006.You must itemize your deductions on Schedule A.The deduction for PMI starts to phase out once your Adjusted Gross Income (AGI) reaches $100,000, or $50,000 (married filing separately). The deduction for PMI disappears entirely when your AGI reaches $109,000, or $54,500 (married filing separately).Have you itemized all of your deductions?

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dallen1

Level 1

Solved

I entered my mortgage insurance premiums (block 5 on 1098) into Turbotax but on the 2015/2016 Deduction & Credits overview it reflects a zero?

Forum|Forum|7 years ago
June 6, 2019
1 reply
0 views

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TurboTax Free Edition Online

Best answer by Marketstar

To meet the eligibility requirements for the mortgage insurance deduction:

You can only deduct qualified mortgage insurance you paid in relation to your main or second home,
You must have started the mortgage insurance contract after December 31, 2006.
You must itemize your deductions on Schedule A.

The deduction for PMI starts to phase out once your Adjusted Gross Income (AGI) reaches $100,000, or $50,000 (married filing separately). The deduction for PMI disappears entirely when your AGI reaches $109,000, or $54,500 (married filing separately).

Have you itemized all of your deductions?

MarketstarAnswer

Level 12

To meet the eligibility requirements for the mortgage insurance deduction:

You can only deduct qualified mortgage insurance you paid in relation to your main or second home,
You must have started the mortgage insurance contract after December 31, 2006.
You must itemize your deductions on Schedule A.

The deduction for PMI starts to phase out once your Adjusted Gross Income (AGI) reaches $100,000, or $50,000 (married filing separately). The deduction for PMI disappears entirely when your AGI reaches $109,000, or $54,500 (married filing separately).

Have you itemized all of your deductions?