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When can we expect to know if the Mortgage Insurance Premiums will be deductible for 2018 taxes?

Forum|Forum|7 years ago
June 1, 2019
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Best answer by RachelW33

As of tax year 2018, the PMI deduction is currently unavailable. As of now, it is uncertain when, or if, Congress will approve this deduction for tax year 2018, 2019 and beyond.

If the deduction is approved after your file your 2018 Tax Return, you can file an Amendment to claim the deduction. Here are the instructions to do so: How to Change a Tax Return You Already Filed.

Alternatively, you can wait to file your Tax Return until Congress definitively approves or denies the deduction. At this time, there is no estimate of when a final decision will be made.

RachelW33Answer

As of tax year 2018, the PMI deduction is currently unavailable. As of now, it is uncertain when, or if, Congress will approve this deduction for tax year 2018, 2019 and beyond.

If the deduction is approved after your file your 2018 Tax Return, you can file an Amendment to claim the deduction. Here are the instructions to do so: How to Change a Tax Return You Already Filed.

Alternatively, you can wait to file your Tax Return until Congress definitively approves or denies the deduction. At this time, there is no estimate of when a final decision will be made.

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