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New Member
posted Jun 6, 2019 10:24:07 AM

Can I claim PMI on my 2017 return?

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3 Replies
Level 15
Jun 6, 2019 10:24:08 AM

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.)

New Member
Jun 6, 2019 10:24:11 AM

It depends. Please see the below on reporting your PMI:

Can I deduct mortgage insurance (PMI or MIP)?
https://ttlc.intuit.com/replies/3301952

Level 15
Jun 6, 2019 10:24:13 AM

BIPARTISAN BUDGET ACT OF 2018    <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4241639">https://ttlc.intuit.com/questions/4241639</a>