topic In 2017, mortgage insurance premium (MIP) cannot be claimed at this time but might change. If this is true, when and how will TurboTax notify us if and when we can?? in Deductions & credits

In 2017, mortgage insurance premium (MIP) cannot be claimed at this time but might change. If this is true, when and how will TurboTax notify us if and when we can??

steelman006 — Thu, 06 Jun 2019 14:14:02 GMT

The AnswerXchange will be the best place to monitor the I...

MichaelDC — Thu, 06 Jun 2019 14:14:04 GMT

The AnswerXchange will be the best place to monitor the IRS's progress and TurboTax. In the meantime, here's a good take on the issue from two respected sources. Please feel free to post any additional details or questions in the comment section.

https://ttlc.intuit.com/replies/6635123

Turbotax was updated to allow the deduction for mortgage...

Opus 17 — Thu, 06 Jun 2019 14:14:07 GMT

Turbotax was updated to allow the deduction for mortgage insurance premiums as of February 22, 2018. It's included in the entry for mortgage interest.

Remember that the usual rules still apply: there are income limits, and pre-paid lump sum amounts must be spread out over 84 months, you can only deduct the number of months worth that you paid in 2017. (Up front lump sum amounts for the VA funding fee and Rural Housing Authority are fully deductible, and monthly premiums are fully deductible.)