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fredwiggins
New Member

Mortgage Insurance Premium - not showing up in deductions summary

I entered my Mortgage Insurance Premium into the deductions.  Our combined income does not exceed 90,000.  For some reason, it does not show up in the deductions summary. It does show up in the deductions summary for the previous year.
How do I get credit for this deduction
2 Replies
Marketstar
Level 7

Mortgage Insurance Premium - not showing up in deductions summary

To meet the eligibility requirements for the mortgage insurance deduction:

  • You can only deduct qualified mortgage insurance you paid in relation to your main or second home,

  • You must have started the mortgage insurance contract after December 31, 2006.

  • You must itemize your deductions on Schedule A.

You will need to upgrade to TurboTax Deluxe to benefit from this deduction.

Unless you have enough itemized deductions (ie. Medical mortgage interest, property taxes, charitable giving, ect) to exceed your Standard Deduction, you will not be able to deduct your mortgage insurance premium,

jorste41
New Member

Mortgage Insurance Premium - not showing up in deductions summary

This answer is not correct
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