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tbeck1
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Home loan originated 2012, I pay MIP out of my Escrow account every year, until the loan is paid down to a certain percentage. 2017 $467 was paid for MIP. Deductible?

 
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Home loan originated 2012, I pay MIP out of my Escrow account every year, until the loan is paid down to a certain percentage. 2017 $467 was paid for MIP. Deductible?

Just as of today we received word that certain new tax provisions are now updated in Turbo Tax and that the IRS is accepting returns with these items included.  Mortgage Insurance Premiums are one of the items.  So yes deductible in 2017.  Make sure and run updates to your software.

"The IRS recently began accepting taxpayer returns with the tuition and fees deduction, deduction for mortgage insurance premiums and the exclusion of canceled debt on a primary residence. Turbo Tax has been updated TODAY to allow customers to file with these three extended tax breaks."

For more information:

https://ttlc.intuit.com/replies/6585982

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Home loan originated 2012, I pay MIP out of my Escrow account every year, until the loan is paid down to a certain percentage. 2017 $467 was paid for MIP. Deductible?

Just as of today we received word that certain new tax provisions are now updated in Turbo Tax and that the IRS is accepting returns with these items included.  Mortgage Insurance Premiums are one of the items.  So yes deductible in 2017.  Make sure and run updates to your software.

"The IRS recently began accepting taxpayer returns with the tuition and fees deduction, deduction for mortgage insurance premiums and the exclusion of canceled debt on a primary residence. Turbo Tax has been updated TODAY to allow customers to file with these three extended tax breaks."

For more information:

https://ttlc.intuit.com/replies/6585982

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