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kudzakid
New Member

Where can i deduct the VA funding fee for acquiring a VA loan?

 
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IreneS
Intuit Alumni

Where can i deduct the VA funding fee for acquiring a VA loan?

The VA Funding fee on the purchase of a personal residence is considered a type of mortgage insurance.

To enter your VA funding fee please follow these steps:

  1. Click on Federal Taxes > Deductions & Credits  [In TT Self-Employed:  Personal > Deductions & Credits > I'll choose what I work on].
  2. In the Your Home section, click on the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance.  [See Screenshot #1, below.)
  3. If you haven't entered any mortgage information yet, just proceed through the screens, until you come to
    Let's get the details from your [lender] 1098 now.  [Screenshot #2]
  4. Enter the VA funding fee in Box 5 - Mortgage insurance premiums.
  5. If you've already entered some mortgage information you will see the Mortgage Deduction summary screen.  Click on Edit on the line for the lender.  [Screenshot #3]
  6. If you need to enter another loan, click on the Add a lender box.



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4 Replies
IreneS
Intuit Alumni

Where can i deduct the VA funding fee for acquiring a VA loan?

The VA Funding fee on the purchase of a personal residence is considered a type of mortgage insurance.

To enter your VA funding fee please follow these steps:

  1. Click on Federal Taxes > Deductions & Credits  [In TT Self-Employed:  Personal > Deductions & Credits > I'll choose what I work on].
  2. In the Your Home section, click on the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance.  [See Screenshot #1, below.)
  3. If you haven't entered any mortgage information yet, just proceed through the screens, until you come to
    Let's get the details from your [lender] 1098 now.  [Screenshot #2]
  4. Enter the VA funding fee in Box 5 - Mortgage insurance premiums.
  5. If you've already entered some mortgage information you will see the Mortgage Deduction summary screen.  Click on Edit on the line for the lender.  [Screenshot #3]
  6. If you need to enter another loan, click on the Add a lender box.



**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Where can i deduct the VA funding fee for acquiring a VA loan?

Was the deduction extended for the tax year of 2018?
IreneS
Intuit Alumni

Where can i deduct the VA funding fee for acquiring a VA loan?

Not yet. (as of 2/20/2019)
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Where can i deduct the VA funding fee for acquiring a VA loan?

Has it been extended now?
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