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Get your taxes done using TurboTax
Yes, assuming you entered the VA funding fee into box 5 as "Mortgage Insurance" it is generally deductible. However, there is a limitation based on your Adjusted Gross Income. Here is an excerpt from IRS Publication 936.
Limit on deduction.
If your adjusted gross income on Form 1040 or 1040-SR, line 11, is more than $100,000 ($50,000 if your filing status is married filing separately), the amount of your mortgage insurance premiums that are otherwise deductible is reduced and may be eliminated. If your AGI is more than $109,000 ($54,500 if married filing separately), you cannot deduct your mortgage insurance premiums.
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‎February 13, 2022
6:55 AM