TurboTax FAQ
TurboTax FAQ
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Can I deduct mortgage insurance (PMI or MIP)?

The deduction for mortgage insurance premiums is currently not available for tax year 2018, but Congress may approve tax legislation that would allow the deduction.

Yes. If you itemize and the insurance contract was issued after 2006.

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

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


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