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Why is Mortgage Insurance Premium automatically added as Income for Georgia Income Tax return?

 
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Why is Mortgage Insurance Premium automatically added as Income for Georgia Income Tax return?


@minfam67 wrote:

GA Form 500 Line 9 - Which comes from schedule 1 line 5 - Other: Mortgage Insurance Premiums.


That is an error in the state program.  The MIP was extended through tax year 2019 and Georgia accepted the Federal extenders.

If you are using the TurboTax desktop editions, then in Forms mode remove the description and amount form GA Schedule 1 Line 5 Other

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4 Replies

Why is Mortgage Insurance Premium automatically added as Income for Georgia Income Tax return?

Where are you seeing this? 

Mortgage Insurance Premiums are only entered as an Itemized Deduction on Schedule A of the federal tax return.  There is nowhere on the Georgia state tax return to enter the MIP.

Why is Mortgage Insurance Premium automatically added as Income for Georgia Income Tax return?

GA Form 500 Line 9 - Which comes from schedule 1 line 5 - Other: Mortgage Insurance Premiums.

Why is Mortgage Insurance Premium automatically added as Income for Georgia Income Tax return?


@minfam67 wrote:

GA Form 500 Line 9 - Which comes from schedule 1 line 5 - Other: Mortgage Insurance Premiums.


That is an error in the state program.  The MIP was extended through tax year 2019 and Georgia accepted the Federal extenders.

If you are using the TurboTax desktop editions, then in Forms mode remove the description and amount form GA Schedule 1 Line 5 Other

Why is Mortgage Insurance Premium automatically added as Income for Georgia Income Tax return?

Interesting. I'm using the website version and I couldn't remove it. I'll try getting the desktop version and remove it. Thank you!

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