Mortgage Insurance Tax Deductibility
Mortgage Insurance Premiums Paid in 2017

The President signed the Bipartisan Budget Act of 2018, H.R. 1892, on Feb. 9, 2018.
The bill extends a number of tax provisions that expired at the end of 2016 and were retroactively reinstated for 1 year through 2017
Families with total adjusted gross income up to $100,000 may deduct 100% of the mortgage insurance premiums paid in 2017
The MI tax deduction gradually phases out until adjusted gross income reaches $110,000, at which point, the deduction reaches $0

Contributed by Cindy Meade, Senior Loan Officer, at Northpoint Mortgage
MGIC News Update – Mortgage Insurance – Tax Deductibility • Feb. 15, 2018