MORTGAGE INSURANCE is not adding to mortgage interest on schedule A. Client qualifies.

[dmccpa]

2018 MIP not computing.  I had clients who didn't get the deduction last year either due to Pro Series Screw Up.  In the mean time, I'm holding for someone to answer the phone.  How do I get it to compute?

[garman22 · Accepted solution]

You will not as it has not been extended for 2018 here. They only have it there in case it gets extended or its there as some states did not conform to Federal guidelines. 

[IRonMaN]

This is why the support hold times are so long.  Folks really need to do a little bit of homework before they start blaming the software for their own lack of tax knowledge.

[Just-Lisa-Now-]

Exactly!  

[garman22]

True there

[dmccpa]

That's what we were told last year and I filed and it was extended.  I did an extensive search and concluded it was deductible for 2018. Pro Series is looking into it

[Just-Lisa-Now-]

Pub 936 makes it pretty clear its expired as of 12/31/17   Tons of websites out there stating it was extended...none of them are from IRS.

[sjrcpa]

Can you give us the cite you found  when "I did an extensive search and concluded it was deductible for 2018." ?

[Just-Lisa-Now-]

It was extended late last year (not a PS screwup), you can still amend the 2017 return for PMI.  

It was not extended for 2018 though.

[dmccpa]

yeah I wasn't going to do that.  It was IRS you are right

[powertax1]

What’s New
Mortgage insurance premiums. The itemized deduction for mortgage insurance premiums has been extended through 2020. You can
claim the deduction on line 8d of Schedule A
(Form 1040 or 1040-SR) for amounts that were
paid or accrued in 2019.

[taxlady111]

It has been extended, here is the link to the IRS updated 1040 Schedule A instructions.

Now when will Proseries be updated so we can do the amendments for our customers

https://www.irs.gov/pub/irs-pdf/i1040sca_18.pdf

[taxlady111]

I've done my homework and have waited for Proseries to update 2018 program for the MIP deduction, but nothing yet.

https://www.irs.gov/pub/irs-pdf/i1040sca_18.pdf

As you can see, it was changed in December of 2019, retroactive back to 2018 taxes.  Maybe you should do your homework before trying to make an ass out of a fellow tax preparer who actually was correct and you were not!!