Question

Can I correct my Quicken Loan 1098 due to a change on box #5? This is based on the Bipartisan Budget Act for 2017 tax year. Is this a deduction?

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Yes, mortgage insurance premiums reported in box 5 can now be deducted.

If you have already filed your return and it has been accepted by the IRS, you will need to amend it to include the additional deduction.

Here are the instructions for amending a 2017 tax return.

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