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The pmi deduction was reinstated in december 2019. I cannot find where to enter this. Where do I enter pmi?

Where can I enter pmi?
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3 Replies

The pmi deduction was reinstated in december 2019. I cannot find where to enter this. Where do I enter pmi?

Enter your private mortgage insurance premiums in box 5 of your 1098 entry screen:

  1. With your return open, search for 1098 and select the Jump to 1098 link at the top of your search results.
  2. Follow the instructions and questions.
  3. Soon, you'll come to the 1098 entry screen. Your PMI/MIP is entered in Box 5 – Mortgage insurance premiums.

You can deduct private mortgage insurance (PMI or MIP) if you itemize your deductions and the insurance contract was issued after 2006.

bobz5
New Member

The pmi deduction was reinstated in december 2019. I cannot find where to enter this. Where do I enter pmi?

Attempted to Amend a 2019 return for the PMI deduction.  I see that the info is already in the portion where you enter the PMI amt from the 1098.

However, turbo tax is NOT seeing it as a deduction, it is only showing the interest as deductible.

AnnetteB6
Expert Alumni

The pmi deduction was reinstated in december 2019. I cannot find where to enter this. Where do I enter pmi?

You may not be seeing a change in your amended return after including the PMI deduction because there is a phase-out range where the PMI deduction is either limited or eliminated.  

 

Take a look at the following TurboTax article for more details:  Can I deduct private mortgage insurance (PMI or MIP)?

 

Even though the article shows it has been updated for the 2020 filing season, the limits were the same for 2019 tax returns.

 

@bobz5

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