Are Mortgage Insurance Premium deductions available for 2018-2019 tax years?
So I've been digging through some old tax paperwork and found something about mortgage insurance premium (MIP) deductions for my 2018 and 2019 returns. The document I found states that mortgage insurance premiums are deductible for both the 2018 and 2019 tax years, but I wanted to double check if this information is accurate before I consider amending my returns. I honestly can't remember if I claimed these deductions when I filed originally, and now I'm wondering if I left money on the table. I've heard conflicting things about MIP deductibility over the years, so just want to make sure I understand this correctly before taking any action.
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Olivia Harris
Yes, that information is correct. The mortgage insurance premium deduction had expired but was retroactively reinstated for 2018 and 2019 tax years through the Taxpayer Certainty and Disaster Tax Relief Act. This allowed taxpayers to deduct their mortgage insurance premiums if they itemized deductions on Schedule A. For it to be deductible, the mortgage insurance had to be for home acquisition debt, and the insurance contract had to be issued after 2006. The deduction began to phase out for taxpayers with adjusted gross incomes over $100,000 ($50,000 if married filing separately) and completely phased out at $109,000 ($54,500 if married filing separately). If you didn't claim this deduction but were eligible, you might want to consider filing an amended return using Form 1040-X to claim the refund, especially if the amount would be significant.
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Alexander Zeus
•Thanks for this info! If I already filed my 2018 and 2019 returns without claiming this deduction, is there a time limit for how long I can go back and file an amended return? Also, is this deduction still available for more recent tax years like 2023 or 2024?
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Olivia Harris
•You generally have three years from the original filing deadline to file an amended return to claim a refund. So for 2018 taxes (originally due April 15, 2019), you would have had until April 15, 2022, and for 2019 taxes (with extensions due to COVID, originally due July 15, 2020), you would have had until July 15, 2023. Unfortunately, it's likely too late to amend those returns now. As for more recent years, the mortgage insurance premium deduction has been extended multiple times. It was available through the 2021 tax year but expired at the end of 2021. Unless Congress has passed new legislation to extend it further, it's not available for 2022, 2023, or 2024 tax returns. Tax laws change frequently, so it's always good to check the most current information when filing.
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Alicia Stern
I've been in a similar situation trying to figure out deductions for my mortgage. Using https://taxr.ai saved me hours of research on this exact topic. I uploaded my mortgage statements and tax docs, and it instantly clarified which MIP payments were deductible for those tax years and calculated exactly how much I could claim. The system even flagged that I hadn't claimed these deductions on my original returns and showed me exactly what I'd need to do to amend them. No more wondering if I'm interpreting tax rules correctly!
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Gabriel Graham
•How accurate is this tool with older tax years? I'm worried about relying on something that might not have the right rules for 2018-2019 since tax laws change so often.
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Drake
•Did it actually help you file the amended return or just tell you what you should have claimed? I'm wondering if it's worth the trouble for what might be a small refund.
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Alicia Stern
•The tool was surprisingly accurate with the older tax years. It has a database of historical tax rules and specifically showed me the provisions of the Taxpayer Certainty and Disaster Relief Act that reinstated MIP deductions for 2018-2019. It even had the correct phaseout thresholds for those specific years. It didn't file the amended return for me, but it generated all the numbers I needed and gave me step-by-step instructions for completing Form 1040-X. In my case, it was about $750 in total refunds across both years, which was definitely worth the effort. It also showed me the deadline for filing the amendment, which was super helpful.
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Drake
Just wanted to update everyone - I decided to try https://taxr.ai after reading about it here, and it was exactly what I needed! I uploaded my mortgage statements and old tax returns, and within minutes it showed me that I qualified for about $620 in refunds for my MIP deductions from 2019. Unfortunately, I missed the window for my 2018 return, but the tool clearly showed me that I was still within the deadline for 2019. The step-by-step amendment instructions made it super easy to file my 1040-X. Just got my refund check last week! Wish I'd known about this sooner.
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Sarah Jones
For anyone still struggling to get clear answers about mortgage insurance premium deductions, I had the same problem last year. After spending weeks trying to call the IRS with questions about amending my returns, I finally used https://claimyr.com and got through to an IRS agent in under 45 minutes! They have this system that holds your place in the IRS phone queue and calls you back when an agent is available. You can see exactly how it works in this video: https://youtu.be/_kiP6q8DX5c The IRS agent confirmed everything about the MIP deduction for 2018-2019 and walked me through exactly what documentation I needed for my amended return. Saved me tons of stress and guesswork.
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Sebastian Scott
•Wait, you actually got through to a real IRS person? I've literally spent hours on hold multiple times and always end up getting disconnected. How much did this service cost?
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Emily Sanjay
•Sounds like BS to me. There's no way to "skip the line" with the IRS. They barely have enough staff to answer a fraction of calls. I'll believe it when I see it.
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Sarah Jones
•I absolutely got through to a real IRS agent. The service doesn't let you "skip the line" - it basically automates the process of waiting on hold. It uses a system that keeps your place in the queue and then calls you when you're about to reach an agent. I was skeptical too! But after multiple failed attempts to get through on my own (including being disconnected after waiting 1+ hours), this was a game-changer. The agent answered all my questions about the mortgage insurance premium deduction and confirmed I was still within the deadline to amend my 2019 return. The documentation requirements they explained saved me from submitting an incomplete amendment that would've been rejected.
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Emily Sanjay
I have to eat my words here. After posting my skeptical comment, I decided to try Claimyr anyway since I was desperate to talk to someone at the IRS about my MIP deductions. Used https://claimyr.com yesterday, and no joke, I got a callback within about 50 minutes. Spoke with an IRS representative who confirmed everything about the mortgage insurance premium deduction for 2018-2019. She even told me exactly which forms and documentation I needed to include with my 1040-X. Filed my amended return this morning - much easier than I expected after two weeks of stressing about it!
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Jordan Walker
Just FYI - even if you missed the window to amend your 2018-2019 returns, current homeowners should keep an eye on this deduction. Congress has extended it several times in the past, and there's always a possibility they'll reinstate it again for future tax years. I make a habit of checking every January to see what deductions have been extended. The mortgage insurance premium deduction can be worth hundreds of dollars if you itemize.
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Natalie Adams
•Do you know any good resources to keep track of these changing tax provisions? I always seem to find out about extensions after I've already filed.
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Jordan Walker
•I usually check the IRS website directly in January before tax season starts. They publish updates on extended provisions. The other resource I've found helpful is following the IRS newsroom (https://www.irs.gov/newsroom) which announces major tax law changes. Tax software usually updates quickly too, but if you file early in the season, sometimes they haven't incorporated the latest extensions that Congress passes at the last minute. That's why I generally wait until at least mid-February to file if I think I might benefit from typically extended provisions like the mortgage insurance premium deduction.
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Elijah O'Reilly
Anyone know if PMI on a refinanced mortgage qualifies for this deduction? I refinanced in 2018 and had to keep paying PMI even though I only pulled out a small amount of extra cash.
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Olivia Harris
•Yes, PMI on a refinanced mortgage would qualify for the deduction in 2018-2019, as long as the loan was primarily for home acquisition debt (buying, building, or substantially improving your home). If you took out some cash but it was minor compared to the refinance amount, the PMI should still be deductible. The key factor is that the insurance contract needed to be issued after 2006 and the loan had to be for your primary or second home, not an investment property.
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