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Can I deduct mortgage insurance premiums on my 2017 taxes?
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However, when amending and adding this amount and viewing the amended return summary, the message is displayed, "We don't detect any differences between your original 2017 return and your amended return." This was my result and I do not believe this is correct and that another update is needed.
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It has not yet been updated in the TurboTax software since it was just recently extended; as we have to wait to receive word from the IRS. This could take some time before the IRS get things updated and once they do, the TurboTax software will then be updated to reflect these changes just as soon we receive direction from IRS.
The IRS is currently reviewing the tax extender for MIP to determine next steps and you can see their statement here IRS Statement on Retroactive Extender Provisions
Please see this TurboTax FAQ for more information about Tax
Relief - The Bipartisan Budget Act of 2018: https://ttlc.intuit.com/replies/6585982
YES!
To enter/edit Mortgage Insurance (PMI):
1. Open your return (or continue if open).
2. Type “pmi” (upper-case works too) in Search box (upper right-hand corner of the screen)
3. Click on “Jump to pmi” link.
4. Answer screen interview prompts.
Please see screenshot below:
[Edited 3/16/18 | 11:25am]
If you see no change to your tax return, then you do NOT need to amend your return. Your Form 1098, Mortgage Interest Statement may allow you deduct mortgage interest, mortgage insurance premium, real estate taxes, etc., but if you don't itemize or if these deductions don't change your return, then you do not have to file it.