Is claiming the VA funding fee limited by my income? If household income is greater than X, is the fee no longer tax deductible?
Correct. The income limit on the mortgage insurance deduction is $109,000 for most taxpayers and $54,500 for married filing separately. And The deductions starts to phase out or become reduced, at $100,000 or $50,000 respectively
Is claiming the VA funding fee limited by my income? If household income is greater than X, is the fee no longer tax deductible?
Correct. The income limit on the mortgage insurance deduction is $109,000 for most taxpayers and $54,500 for married filing separately. And The deductions starts to phase out or become reduced, at $100,000 or $50,000 respectively
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