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Can I claim PMI on my 2017 return?

 
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3 Replies

Can I claim PMI on my 2017 return?

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.)

Jimesa
New Member

Can I claim PMI on my 2017 return?

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

Can I deduct mortgage insurance (PMI or MIP)?

Can I claim PMI on my 2017 return?

BIPARTISAN BUDGET ACT OF 2018    <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4241639">https://ttlc.intuit.com/questions/4241639</a>
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

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