The most common type of deductible mortgage insurance premium is Private Mortgage Insurance (PMI). The PMI Deduction was not extended for the 2018 tax year.
If you are filing a return for a tax year prior to 2018, you can claim the PMI deduction if:
- The mortgage is secured by your first or second home;
- You pay mortgage insurance premiums for your mortgage
- The insurance contract was issued in 2007 or later
To make this entry into the program:
- Prior Years tab
- Select year prior to 2018
- Access account
- Federal Section
- Deductions
- Itemized Deductions
- Mortgage Interest and Expenses
- Private Mortgage Insurance
