Whether you’re an experienced do-it-yourselfer or doing your own taxes for the first time, this is your place to learn and share. Here you’ll find information and resources for using H&R Block’s online and software DIY solutions. You’ll also find links to more information to assist you on your DIY journey.
02-23-2018 12:57 PM
I just ran the software update and it now includes a question (under mortgage interest)on mortgage insurance premiums! That's great, BUT, after adding my number IT DOES NOT recalculate the tax owed/refund number!!!
Anyone else seen this?
02-23-2018 02:34 PM
Bad news ... if your 1040 Line 38 income is more than $109K ($50K filing separate) you can NOT deduct ANY PMI ... and between $100K and $109K you can only deduct a certain part of it, all according to the new Schedule A just posted by IRS.
Seems to be a non-intutive limit but that's how this works
02-23-2018 06:58 PM
Will i have to pay to refile the amended taxes?
Will it auto update my refund or do i have to do it all over again?
March 2 is the projected date that this site will be updated to input the mortgage insurance, or later?
I know this must be driving the tax prep folks wild.
02-23-2018 07:49 PM
Just an FYI - though the mortgage insurance deduction eligibility had expired, I just received word from my lender (Quicken Loans) that a number of tax provisions for the 2017 tax year were retroactively extended on Feb-9, 2018 so they provided a revised 1098 form containing the MIP amount.
You may want to contact your lender and see if they have issued a revised form for you.
02-23-2018 08:16 PM
I had to read the fine print of my lender-issued 1098 form but on mine MIP is listed in Box 5 (may be same on yours too?) and fine print says:
"Box 5. If an amount is reported in this box, it may qualify to be treated as
deductible mortgage interest. See the 2017 Schedule A (Form 1040) instructions
and Pub. 936."
So I added the amount in Box 5 to the amount in Box 1 to get to the total deductible interest. Make sure you meet the qualifications listed in HR Block around this though - e.g. being within the allowed AGI amount.
02-25-2018 08:35 PM
It appears the current version as of 2/25/18 will not allow entering PMI on Schedule A line 13 (neither directly on the form nor through the questionnaire UI), it says "RESERVED". Will we have to wait until the next software update on 3/2/18 to enter PMI for mortgage interest deduction? (Note I am using the desktop version)
03-03-2018 12:23 PM
"Bad news ... if your 1040 Line 38 income is more than $109K ($50K filing separate) you can NOT deduct ANY PMI ... and between $100K and $109K you can only deduct a certain part of it, all according to the new Schedule A just posted by IRS.
Seems to be a non-intutive limit but that's how this works"
That was always the case. Not a new rule for 2017.
03-14-2018 01:34 PM
I'd just like to confirm that yes, the PMI deduction line is in the latest H&R Block 2017 update. I'm using H&R Block 2017 Deluxe for Mac. The ability to put in $3100 from box 5 of my mortgage interest Form 1098 increased my refund by over $400 :-).
Please also note that I've had to download each software update directly from H&R Block's own website. For whatever reason, the Mac version has NEVER updated successfully from within the software interface for me (that's also been true for the 2015 and 2016 versions). I've read in other threads on this site that this is a common problem going back for years.
Here's the direct URL for downloads that I used: https://www.hrblock.com/tax-software/updates-back-editions/federal-mac.html . The file that worked for my version was HRBlock_Deluxe_2017_Update_E.dmg.