PMI deduction was renewed for 2017. Where in TurboTax deluxe is it entered, I see no place to enter it.

[xmasbaby0]

No, but there is an extender bill in Congress.  So far no PMI deduction has been voted on.

[SweetieJean]

Correct.

[trickeever]

Any updates on this deduction?

[xmasbaby0]

No it has not been renewed.  Nothing has happened one way or the other.

[tawadley]

What happens if I do my taxes without this deduction, then Congress renews it? How do I handle that?

[DoninGA]

This late with the 2017 tax season in full swing, it is highly doubtful this deduction will ever be renewed for tax year 2017.
TurboTax would update their software if it ever was renewed and then you would have to file an amended tax return for 2017.

[tawadley]

Well RATS!.... I've still contacted all my Congressman and the House and Ways Committee. H.R.109-Mortgage Insurance Tax Deduction Act of 2017 was introduced Jan 3, 2017 and is still sitting out there waiting... I don't give it much hope, but worth a shot to contact your Congressman about it. Maybe they'll do it for this last year. Thanks for the answer

[njlord]

I heard it was recently extended for 2017 tax season. When will TurboTax update software so I can complete my amendment?

[xmasbaby0]

BIPARTISAN BUDGET ACT OF 2018    <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4241639">https://ttlc.intuit.com/questions/4241639</a>
We really do not know how long it might take for the IRS and all of the tax prep software to be changed for this. The changes that must be made are quite complicated. You choices right now are messy—either wait for the changes to take place at the IRS and in the software, or file now and amend later.

[yanefski]

is it a guarantee that these changes will at the IRS and in the Turbo tax software will be completed before April 15th?  If not, then I'll file now and amend later, but if this something that has to be completed by prior to April 15th then waiting to file seems reasonable.  Any ideas on timing?

[jerseydaves]

I just received a letter from my bank today stating they had to supply me this amount as a new tax form since it was not included on Box 5 of my original statement so I'm assuming that means it was now approved for the 2017 Tax year. I already filed so I have to do a ammendment now..

[xmasbaby0]

BIPARTISAN BUDGET ACT OF 2018    <a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4241639">https://ttlc.intuit.com/questions/4241639</a>
We really do not know how long it might take for the IRS and all of the tax prep software to be changed for this. The changes that must be made are quite complicated.  Sorry we cannot be more definitive.

[chelsea-marvitz]

2017 PMI is deductible, when/how can we be notified when the software update takes this into account?

[frasquie]

I paid PMI in 2017 and already submitted my taxes through the Deluxe online version but the amount had not been asked for at the time.  What is the cost had how do I go about filing amended taxes?