During my Mortgage Deductions it never prompts for me to enter my mortgage insurance premiums from my 1098. How do I enter my Mortgage Insurance Premiums?

[sondrals]

I followed the how to on help, but nothing ever shows up for me to enter it.

[DoninGA · Accepted solution]

The deduction for PMI (Private Mortgage Insurance) expired at the end of 2016 and has not been renewed or extended into tax year 2017.

[SweetieJean]

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4151247-when-will-the-new-tax-bill-be-fully-in-place-i-am-asking-b...>

[janwink4]

It was approved on February 9th as part of the Budget Act of 2018 and Extenders 2018/02/09.

[Carl]

You will have to wait for the IRS to release the electronic version of the form so that TurboTax can update their software. Until that happens, we all wait.

[xmasbaby0]

BIPARTISAN BUDGET ACT OF 2018    <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4241639">https://ttlc.intuit.com/questions/4241639</a>
We really do not know how long it might take for the IRS and all of the tax prep software to be changed for this. The changes that must be made are quite complicated. You choices right now are messy—either wait for the changes to take place at the IRS and in the software, or file now and amend later.

[nadesia007]

Well Turbo Tax should inform homeowners who may not be aware that they should wait.

[stevievi10]

I agree. I just filed and looked over the forms that I downloaded and there is a space for the PMI but nothing is listed.  Now I find out I have to amend my taxes to fix this oversight and to boot the free free free wasn't free at all and on top of that they shady put the extra 39.99 fee not with the other fees but tried to hide it. First and last time filing with this company.

[jwaggs1973]

I already filed and received my return!  What is the process to amend?  I already paid the $29.99 and not sure it will be worth additional fees...

[stevievi10]

Pull up the tax program. To the right hand side there's a link to amend. Then look for changes for deductions.  Amended taxes have to be submitted by mail.  I did recieve an additional refund for including the PMI deduction.

[Opus 17]

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.)

Also, because the deduction expired at the end of 2016 and was not renewed until 2018, many banks did not report mortgage insurance on their 1098 forms.  If you don't know your PMI or MIP amount, contact your mortgage lender.

[leena124]

Is it worth me amending my taxes this year if my Mortgage Insurance Premium was $789?

[janwink4]

It would depend on your income since there are income limits.

[leena124]

how do I find out what the income limits are?

[janwink4]

See if this helps.   <a rel="nofollow" target="_blank" href="https://www.irs.gov/forms-pubs/reporting-mortgage-insurance-premiums-mip-treated-as-qualified-reside...>