Mortgage Insurance

[davidhill1963]

Are you about to deduct mortgage insurance?

[davidhill1963]

I meant, are you able to deduct mortgage insurance? When I do a search in TurboTax, it shows me the 'Who's your mortgage lender?" section.  I paid a lump sum during my closing so I don't have a lender.

[JotikaT2]

It depends. 

As long as you are able to itemized and are within the Adjusted Gross Income limits as outlined in the link below, you would be able to deduct the mortgage insurance premiums.

Deducting mortgage insurance premiums

You would still enter it as follows, but you will select that you did not receive a 1098 Form and proceed to answer the questions accordingly.

You can enter your information that typically would have been reported on a 1098 Form into the program in the federal section of the program.

1. Select Deductions & Credits
2. Select Mortgage Interest and Refinancing (Form 1098) 
3. At the bottom of the next page, select Add another 1098

When you see the screen asking Do any of these uncommon situations apply to your loan, you can select that you did not receive a 1098 Form and proceed to enter your information as prompted.