How e-File Protects your Tax Refund
Filing your taxes online is actually the safest way to handle your tax return, according to the IRS. Here's why!
ReadCan I deduct private mortgage insurance premiums?
More Tax Guides
You got this—all you have to do is start!
We make filing taxes delightfully simple with our flat–rate price. Every feature included for everyone.
Start filingYes, through tax year 2020, private mortgage insurance (PMI) premiums are deductible as part of the mortgage interest deduction.
Be aware of the phaseout limits, however. The deduction begins to phase out at an AGI amount of $100,000, and phases out completely once AGI reaches $109,000 (if married filing separately, the phaseout begins at $50,000 and phases out completely at $54,500).
The PMI deduction had expired at the end of 2017, but has been extended through the 2020 tax year. It is not clear yet whether it will be extended for tax year 2021.
For more information, see our Tax Breaks for Homeowners page on the Tax Guide.
Still have questions?
You got it. We’re always here to help.