Mortgage Insurance Premiums - Entering In TaxAct
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To enter your qualifying mortgage insurance premiums as an Itemized Deduction, please follow the steps below:

  1. Click Federal. On smaller devices, click in the upper left-hand corner, then select Federal.
  2. Click Itemized or Standard Deductions in the Federal Quick Q&A Topics menu to expand the category, then click Interest expenses
  3. Click Continue or No until you reach the screen titled Itemized Deductions - Qualified Mortgage Insurance Premiums

Per IRS Publication 530 Tax Information for Homeowners, page 2:

Nondeductible payments. You can’t deduct any of the following items.

  • Insurance, including fire and comprehensive coverage, mortgage insurance, and title insurance
  • Wages you pay for domestic help
  • Depreciation
  • The cost of utilities, such as gas, electricity, or water
  • Most settlement costs. See Settlement or closing costs under Cost as Basis, later, for more information
  • Forfeited deposits, down payments, or earnest money