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Level 3
December 7, 2019
Solved

Qualified Mortgage Insurance Premiums

  • December 7, 2019
  • 16 replies
  • 49 views

So many problems this year. Qualified Mortgage Insurance Premiums are not populating and there are incorrect instructions and line #'s in the smart worksheet. Schedule A was suppose to be final. This section was not even updated from last year it looks like. Please check any client you may have already e-filed. The community says it can be overridden with the online software. Is there any workaround for regular Intuit Professional version? I tried overriding, but doesn't populate. When I called last night, after about 2 hours and sending a sanitized file, I was told that it was a problem that needed to be corrected. Sounded like they were unaware. The Schedule A that was said to be final, actually has problems.


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Best answer by Just-Lisa-Now-

Publication 936 updated Jan 24th , 2019 says that PMI is not deductible....tons of outdated internet articles that show it was extended, they have bad information.

16 replies

Just-Lisa-Now-
Intuit Community Champion
December 7, 2019

Publication 936 updated Jan 24th , 2019 says that PMI is not deductible....tons of outdated internet articles that show it was extended, they have bad information.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
rbynaker
Level 13
December 7, 2019
It's pretty shocking the amount of misinformation that is out there.  I've heard the DIY folks are just adding MIP to their mortgage interest and deducting it that way.  Why let silly things like tax laws get in the way of a good deduction!
December 7, 2019

Mortgage Insurance Premiums are no longer deductible on the Federal tax return (it expired), so that is why it is not populating.  ProSeries just left it on on Schedule A in case Congress did any last minute renewals.

Just-Lisa-Now-
Intuit Community Champion
December 7, 2019
"When I called last night, after about 2 hours and sending a sanitized file, I was told that it was a problem that needed to be corrected. "

@Intuit ANYBODY!  see this is the kind of support people get on the phone!   Educate your phone reps!
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪