Mortgage Insurance Deduction Amend 2018

[Rush2808]

I filed my 2018 tax on HRblock and I'm trying to amend the tax year due to the new bill that allows deduction for MIP 2018-2020 I filled out the 1040X form...now my confusion is

• Do I need to attach the 2018 schedule A (this doesn't have the MIP column) 
• Do i need to attach 2019 schedule A (this has the MIP column)
• Or both? Neither?
• Or wait until the have a revised 2018 schedule A that I should redo with the MIP?

I plan on using turbotax from now on since HRblock doesn't let you amend your previous tax online

TIA

[GiseleD · Accepted solution]

Regarding the first and fourth bullets:

I just double-checked the 2018 Schedule A on IRS.gov, and you are correct. The IRS has not yet updated the form to include Congress' retroactive tax extender for the mortgage insurance premiums. Until the IRS (and your state taxing authority, if applicable) revise this form, I would recommend that you hold off on filing your 2018 amended return. 

Second and third bullets:

Whenever you amend a return, you attach all relevant (amended) forms and schedules to that amended return. You will not attach the 2019 Schedule A to that 1040x, as it will be filed with your 2019 1040.

Please keep in mind that any resulting refund or reduction in tax due on your 2018 return may affect your 2019 calculations. With that, I recommend first filing your 2018 1040x (when the Schedule A is ready), give the IRS time to process it, and then file your 2019 return. You may need file an extension for your 2019 return. Alternatively, you can file the 2019 return as normal and just amend it if the IRS's accepted changes on your 2018 return impact your 2019 return. 

Here's some more information on amended returns (PDF).

[Millerj13]

It appears that the IRS has now revised the 2018 Schedule A, with line 8d showing.  When will TurboTax incorporate this as an update to the 2018 software, so taxpayers can amend their 2018 returns?

[DoninGA]

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@Millerj13 wrote:

It appears that the IRS has now revised the 2018 Schedule A, with line 8d showing.  When will TurboTax incorporate this as an update to the 2018 software, so taxpayers can amend their 2018 returns?

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Where are you seeing the 2018 IRS Schedule A updated for Mortgage Insurance on Line 8d?

This is the 2018 Schedule A showing on the IRS website - https://www.irs.gov/pub/irs-prior/f1040sa--2018.pdf

[Rush2808]

I tried to look at the 2018 schedule A and it still say on the line "reserved" would you kindly provide the link to it? 

[hmcginley1974]

The 1040x has not been updated yet on the IRS website.  However, I have attached the link for the Schedule A instructions.  You can see that the mortgage insurance premium has been approved again for 2019 and retroactively for 2018.  They need to update the 1040x to add that line back in.  It would fall under 8a.  Once it's updated, it should then be updated on this site.  No date has been given but hopefully in the next few weeks.

https://www.irs.gov/pub/irs-pdf/i1040sca.pdf

[Lovejoy]

I am attempting to file an amended 2018 return based on Congress’s retroactive extension of the mortgage insurance premiums deduction. The MIP amount from Form 1098, box 5 was still entered from last year. But when I move through the amended return screens, the software is not including the MIP amount when calculating my revised deduction. What should I do to get it to change my itemized deduction amount?

[hmcginley1974]

The Turbo Ta software hasn't been updated yet to include the 2018 mortgage insurance premium deduction.  The last time changes like this were made to tax laws, they didn't update until April of that year.  If you did your 2018 taxes through Turbo Tax, they should actually send you an email once the software has been updated.  You can also do the amended return manually and mail to the IRS.  Hope this helps!

[kmiddleton7]

I went through and updated my 2018 taxes due to the recently updated PMI deduction... During the review, it asks me to check a box listing the reason for the amendment. What is the correct selection for this? Would it be Credit Adjustment?

[JotikaT2]

Yes.

You can indicate you are amending your return to include the PMI deduction not previously reported as an itemized deduction.