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

kudzakid · ‎May 31, 2019

IreneS · ‎May 31, 2019

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:

Click on Federal Taxes > Deductions & Credits [In TT Self-Employed: Personal > Deductions & Credits > I'll choose what I work on].
In the Your Home section, click on the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance. [See Screenshot #1, below.)
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]
Enter the VA funding fee in Box 5 - Mortgage insurance premiums.
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]
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"

IreneS · ‎May 31, 2019

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:

Click on Federal Taxes > Deductions & Credits [In TT Self-Employed: Personal > Deductions & Credits > I'll choose what I work on].
In the Your Home section, click on the Start/Revisit box next to Mortgage Interest, Refinancing, and Insurance. [See Screenshot #1, below.)
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]
Enter the VA funding fee in Box 5 - Mortgage insurance premiums.
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]
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"

danieljosephrose · ‎May 31, 2019

Was the deduction extended for the tax year of 2018?

IreneS · ‎May 31, 2019

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"

richard8l41 · ‎May 31, 2019

Has it been extended now?

Unlock tailored help options in your account.