Temporary Tax Provision

[badams_taxes]

Good Morning!

What is a Temporary Tax Provision? Because my ""Mortgage Insurance Premium Deduction sec. 163 (h) (3) ", should not be "Expired."

Important: This form calculates a "temporary" tax provision. This credit will be calculated for eligible payees prior to the expiration date shown below. If the expiration date shows "Expired", this information will not be used in any calculations  or included in your return. Expired temporary provisions are sometimes renewed retroactively, so completing info for expired provisions will allow this return to automatically be updated if/when this provision is renewed. 

"Mortgage Insurance Premium Deduction sec. 163 (h) (3) ", "Expired"

Respectfully,

[CatinaT1]

I'm not sure exactly what your question is, but the Mortgage Insurance Premium Deduction is in fact expired. It expired December 31, 2021.

Expired tax benefits.

The deduction for mortgage insurance premiums treated as mortgage interest under section 163(h)(3)(E), and formerly reported on lines 10 and 16 as deductible mortgage interest and excess mortgage interest, respectively, expired on December 31, 2021.

Section 163

[badams_taxes]

I apologize. I thought TurboTax was telling me that my mortgage insurance had expired; I understand what is happening.

The Mortgage Insurance Premium Deduction expired on December 31, 2021, which is sad.