Turbotax Premier doesn't recalculates the Tax when I enter PMI.

[ritwikdey28]

I am using TurboTax Premier and am entering the Mortgage Interest, PMI and Property Tax. After the 2017 extension, I was hoping Turbo Tax would be recalculating the tax payable after considering the PMI but I see no difference.

App shows "No Pending Updates"

[AndreaC1]

The software has already been updated to include PMI information. Are you itemizing your deductions? If you aren't and you are taking standard deduction, entering it may not make a difference in refund amount. See Why didn't my refund change when I entered my mortgage interest and property (real estate) tax?

Once your adjusted gross income (AGI) exceeds $100,000 ($50,000 for married filing separately) the mortgage insurance deduction is reduced. 

And the mortgage insurance deduction is eliminated once your AGI surpasses $109,000 ($54,500 if married filing separately). 

Related Topics:

• Can I deduct my mortgage?
• Can I still itemize my deductions?
• Can I deduct mortgage insurance (PMI or MIP)?
• How can I tell which deduction (standard or itemized) I'm using?
• How does the itemized deduction differ from the standard deduction?
• How do I amend my 2017 taxes to claim private mortgage insurance premiums?How do I amend to claim mortgage insurance premiums (corrected Form 1098)?