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January 24, 2025
Question

VA Funding Fee

  • January 24, 2025
  • 1 reply
  • 0 views

In 2024 I refinanced my loan.  Had to pay a VA Funding Fee.  I was told I can deduct on tax return as Mortgage Interest.  Got a 1098 for from loan company and it we put in a Mortgage Insurance.  The program will not take-   It said mortgage insurance deduction has expired?  The mortgage company said it is a deduction.  What do I do????.  

    1 reply

    DoninGA
    Employee
    January 24, 2025

    The VA Funding Fee at one time could be used as an itemized deduction for mortgage insurance on Schedule A.

    Mortgage insurance was removed from Schedule A after tax year 2021.