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Employee
June 1, 2019
Question

Is the VA funding fee (mortgage insurance) deductible for tax year 2018?

  • June 1, 2019
  • 1 reply
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1 reply

Employee
June 1, 2019

Not at this time.

The mortgage insurance deduction was eliminated for 2018 taxes.

However, according to IRS publication that was printed on January 24, 2019, there is pending legislation in Congress to extend this deduction.

Source: https://www.irs.gov/pub/irs-pdf/p936.pdf

June 1, 2019
When is a final ruling expected and if approved does my return get adjusted automatically by TurboTax? Also, I know have tax due, can the due date be extended until a final ruling is made?