Technical topics regarding tax preparation.
26-Mar-2023 7:24pm
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Are mortgage insurance premiums still deductible in 2022. My client has PMI reported in box 5 of the 1098. When I look at the Lacerte Pro Series software on the Schedule A, I don't see where it would go?
if it is still deductible in 2022, on what line of the Schedule A would the PMI be shown?
26-Mar-2023 7:31pm
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not deductible in 22
Dave
Taxation is the price we pay for failing to build a civilized society. ~ Mark Skousen
27-Mar-2023 7:52am
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The authority for this is Sec. 163(h)(3)(E)(iv), which says that mortgage insurance premiums paid after 12/31/2021 or allocable to any period after 12/31/2021 are not deductible as home mortgage interest.
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