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

[IRonMaN · Accepted solution]

Not deductible.

[StknCPA]

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?

[davidsteve]

Yes any idea when will this be resolve. 

[itonewbie]

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.