Question

I have read that the deduction for mortgage insurance was extended, when will this be updated in the Turbotax system?

Forum|Forum|7 years ago
June 3, 2019
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It is true that last year the deduction for mortgage insurance premiums got extended to the end of December 2017. This extension occurred in February of 2018 for the tax year 2017. But, as of this date, nothing has been extended for mortgage insurance premiums for tax year 2018 or beyond. Congress may be considering this extension, yet it is unknown as of this date when or if it will be approved.

Per the IRS: Mortgage insurance premiums. The itemized deduction for mortgage insurance premiums expired on December 31, 2017. At the time this publication went to print, Congress was considering legislation to extend the itemized deduction for mortgage insurance premiums. To find out if this legislation was enacted, and for more details, go to IRS.gov/Extenders. From: https://www.irs.gov/publications/p936

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