TurboTax FAQ
TurboTax FAQ
5122 people found this useful

Can I deduct private mortgage insurance (PMI or MIP)?

Not on your tax year 2018 return; this deduction expired at the end of 2017.

For tax year 2017, the answer is yes, provided you itemize and the insurance contract was issued after 2006.

Once your 2017 adjusted gross income (AGI) exceeds $100,000 ($50,000 for married filing separately) the deduction is reduced, and if your 2017 AGI surpasses $109,000 ($54,500 if married filing separately) the PMI/MIP deduction is eliminated altogether.