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Deductions & credits
The software has already been updated to include PMI information. Are you itemizing your deductions? If you aren't and you are taking standard deduction, entering it may not make a difference in refund amount. See Why didn't my refund change when I entered my mortgage interest and property (real estate) tax?
Once your adjusted gross income (AGI) exceeds $100,000 ($50,000 for married filing separately) the mortgage insurance deduction is reduced.
And the mortgage insurance deduction is eliminated once your AGI surpasses $109,000 ($54,500 if married filing separately).
Related Topics:
- Can I deduct my mortgage?
- Can I still itemize my deductions?
- Can I deduct mortgage insurance (PMI or MIP)?
- How can I tell which deduction (standard or itemized) I'm using?
- How does the itemized deduction differ from the standard deduction?
- How do I amend my 2017 taxes to claim private mortgage insurance premiums?How do I amend to claim mortgage insurance premiums (corrected Form 1098)?
‎June 1, 2019
7:00 AM