Solved: How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)
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New Member

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

I filed through the paid desktop application for Turbo Tax. I was told I would get an email once this law was approved (if it was). I'm concerned I may have missed the email and just want to verify.

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Level 1

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

No, you have not missed the update.

A new bill to reinstate this deduction was just filled again on Friday, March 1. 

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10 Replies
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Level 1

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

No, you have not missed the update.

A new bill to reinstate this deduction was just filled again on Friday, March 1. 

View solution in original post

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New Member

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

Thank you!!
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Level 1

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

We will let you know when/if the law changes.
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New Member

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

When will turbotax be updtated? As of March 10th I still see the popup message that it is under review?
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New Member

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

Has this law changed or been approved yet? It's getting closer to April and I'm really hoping it gets approved. Thanks!
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Level 1

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

No, the law has not changed and Congress is not in session this week. I hope your wish is granted
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New Member

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

Just curious, was this ever passed or denied? 

Thanks!

Chelsea

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Level 15

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

@chelsealadair This thread is old.  When the user forum changed from Answer Xchange to Real Money Talk in mid-2019, some old threads migrated over and ended up with June 2019 dates on them even though they were from much longer ago.  You have not missed out on deducting private mortgage insurance for a 2018 return.  PMI was not deductible for your 2018 tax return.

**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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New Member

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

Ah ok. So they denied the bill/law? 

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Level 15

How can I verify that the law for reimbursement of mortgage insurance was approved? (It wasn't when i filed)

The deduction for PMI was not renewed for 2018 returns.  If you owned a home in 2018 the deductions you could enter were mortgage interest, property tax paid, and loan origination fees.  And even with those entries, it was less likely that your itemized deductions would exceed the new increased standard deduction for 2018 and beyond.  Look at line 8 of your 2018 return to see if you ended up using standard deduction or itemized deductions.

 

2018 Standard Deductions:

Single   $12,000  (+ $1600 65 or older)

Married Filing Separately    $12,000  (+ $1300 65 or older)

Married Filing Jointly  $24,000  (+ $1300 each spouse 65 or older)

Head of Household  $18,000  (+ $1600 65 or older)

**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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