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New Member
posted Jun 1, 2019 7:00:28 AM

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

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"

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1 Replies
Level 9
Jun 1, 2019 7:00:29 AM

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). 

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