DIY Products

DIY Products

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.

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Valued Pioneer
Posts: 3
Registered: ‎01-11-2018
Accepted Solution

Is there a deduction for mortgage insurance premiums?

All I can find are articles from two years ago. My 1098-MORTGAGE form has an amount in box 5 for Mortgage Insurance Premiums, but I can't seem to find anywhere to put this in. I am using the Windows version (not the web version), if that helps at all.

 

Thanks!

Trusted Council Member
Posts: 6,191
Registered: ‎02-23-2016

Re: Is there a deduction for mortgage insurance premiums?

Hi MReprogle,

 

 

 

Welcome to the H&R Block community.

 

On Schedule A the mortgage insurance premiums are entered on Line 13.

 

If you're using the online software I can help you figure out where to enter the amount.  In desktop you should be able to choose between the interview and entering things directly onto the forms themselves.  For further assistance with desktop you can call support at 1-800-HRBLOCK.

 

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)

Valued Pioneer
Posts: 3
Registered: ‎01-11-2018

Re: Is there a deduction for mortgage insurance premiums?

Weird.. When I go there, I can edit most fields, but line 13 is labeled RESERVED and is unable to be edited. If I don't owe anything, does this field actually matter, or will is make no difference in my case? I figured that if it was on my 1098-MORTGAGE, there must be a reason, but I am not exactly tax-savvy..

Highlighted
Associate (Pioneer)
Posts: 21
Registered: ‎01-20-2015

Re: Is there a deduction for mortgage insurance premiums?

I assume you are working on your 2017 return.  The deduction for mortgage interest expired at the end of 2016.  So, barring any last-minute retroactive legislation, it is not available for your 2017 return.

Pioneer
Posts: 1
Registered: ‎01-20-2018

Re: Is there a deduction for mortgage insurance premiums?

I am using online version and cannot find a place where to enter mortgage insurance premiums paid. The help screen tells to

  • You'll enter the PMIs on the Mortgage Interest Lender screen., but doesn't explain how.

Thanks

 

Pioneer
Posts: 1
Registered: ‎02-10-2018

Re: Is there a deduction for mortgage insurance premiums?

[ Edited ]

https://www.forbes.com/sites/ashleaebeling/2018/02/09/budget-deal-revives-expired-individual-tax-bre...

 

@Klevin,

Above article states otherwise, although looking at dates, your post is much older than this article.  Likely the legislation was signed after your post?

Moderator
Posts: 74
Registered: ‎09-16-2014

Re: Is there a deduction for mortgage insurance premiums?

Yes, that is correct, that the deduction for PMI was only very recently extended for the 2017 tax year. After the IRS issues new forms compliant with the law, we will get all the forms updated in the software, but since the law signed last Friday was hundreds of pages long, it could take up to a couple weeks.

 

Thank you for your question in the Community!

-Lynn

Pioneer
Posts: 1
Registered: ‎02-19-2018

Re: Is there a deduction for mortgage insurance premiums?

So how long will we have to wait before the site will be updated to enter our PMI amount?

LFi
Valued Pioneer
Posts: 4
Registered: ‎02-20-2018

Re: Is there a deduction for mortgage insurance premiums?

Awesome!  Thank you for entering this Topic! So glad I joined this Community.  I had no idea about this.

I'll wait as long as possible!

Pioneer
Posts: 1
Registered: ‎02-22-2018

Re: Is there a deduction for mortgage insurance premiums?

I talked with an HR Block rep and he told me that the update will become available in the online product around 3/2/18, and  via an update in the software product on 2/23/18.