turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mo2na
Returning Member

PMI amount is entered with mortgage details, but the recap of deduction credits shows 0. Why is the PMI amount not carrying over as a deduction?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Rachel_W
Expert Alumni

PMI amount is entered with mortgage details, but the recap of deduction credits shows 0. Why is the PMI amount not carrying over as a deduction?

The deduction for PMI begins to phase out when your Adjusted Gross Income (AGI) exceeds $100,000 ($50,000 for married filing separately) and is completely phased out when your AGI surpasses $109,000 ($54,500 if married filing separately).

If your AGI has not reached the phaseout limit, please comment below so I can assist you further.


View solution in original post

2 Replies
Rachel_W
Expert Alumni

PMI amount is entered with mortgage details, but the recap of deduction credits shows 0. Why is the PMI amount not carrying over as a deduction?

The deduction for PMI begins to phase out when your Adjusted Gross Income (AGI) exceeds $100,000 ($50,000 for married filing separately) and is completely phased out when your AGI surpasses $109,000 ($54,500 if married filing separately).

If your AGI has not reached the phaseout limit, please comment below so I can assist you further.


PMI amount is entered with mortgage details, but the recap of deduction credits shows 0. Why is the PMI amount not carrying over as a deduction?

MY AGI is not over 100K and my PMI was not 100% deducted?

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question