Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

Is 2018 Mortgage Insurance Premiums tax deductible? Has Lacerte addressed this area?

mikejyale
Level 1
 
Labels (1)
0 Cheers
1 Solution

Accepted Solutions
IRonMaN
Level 15

Not deductible.

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)

View solution in original post

0 Cheers
4 Replies 4
IRonMaN
Level 15

Not deductible.

ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)

View solution in original post

0 Cheers
StknCPA
Level 3

But now it is retroactively deductible in 2018, and also deductible for 2019 courtesy of the Further Consolidated Appropriations Act signed in late December, 2019.

Lacerte was smart enough to keep the input box for both years, but Lacerte is still not deducting it in either year, as far as I can tell.

Any idea when this update will occur?

0 Cheers
davidsteve
Level 3

Yes any idea when will this be resolve. 

0 Cheers
itonewbie
Level 15

The IRS has yet to release the final and updated Sch A for 2018 along with its instructions.  There are other forms relating to the retroactive tax extenders that will need to be updated.

The IRS and Intuit are both busy with TY2019 tax returns.  You'd expect these updates to be made probably only later in the season.

---------------------------------------------------------------------------------
Still an AllStar