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Mortgage Insurance Premiums - Entering In TaxAct
1
To enter your qualifying mortgage insurance premiums as an Itemized Deduction, follow the steps below. 
Online
Dashboard
  1. From within your TaxAct return, click Deductions & Credits.
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Click the Your Home drop-down.
  3. Click Add beside Mortgage Interest & Refinancing. 
  4. Complete the rest of the interview process. 
Classic
  1. From within your TaxAct return, click Federal. 
    • On smaller devices, click the menu at the top left corner of your screen, then make your selection.
  2. Click the Itemized or Standard Deductions drop-down, then click Interest expenses (Mortgage Interest - Form 1098).
  3. Complete the rest of the interview process. 
Desktop
  1. From within your TaxAct return, click Federal. 
  2. Click the Itemized or Standard Deductions drop-down, then click Interest expenses (Mortgage Interest - Form 1098).
  3. Complete the rest of the interview process. 
Per IRS Publication 530, you can’t deduct any of the following items.
  • Insurance (other than mortgage insurance premiums), including fire and comprehensive coverage, 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.
  • Internet or Wi-Fi system or service.
  • Homeowners’ association fees, condominium association fees, common charges.
  • Repairs to home.