This interview will help you determine if you're able to deduct amounts you paid for mortgage interest, points, mortgage insurance premiums, and other mortgage-related expenses.
Information You'll Need
- Your and your spouse's filing status.
- Basic income information including amounts of your income.
- An estimated total (if applicable) of the amounts paid for mortgage interest, points, and/or mortgage insurance premiums (normally reported to you on Form 1098).
The tool is designed for taxpayers that were U.S. citizens or resident aliens for the entire tax year for which they're inquiring. If married, the spouse must also have been a U.S. citizen or resident alien for the entire tax year. For information regarding nonresidents or dual-status aliens, please see International Taxpayers.
Caution: Please note, for 2018 and 2019, this topic doesn’t include the recently passed legislation that extended the deduction of mortgage insurance premiums. Until the update can be made, please see H.R. 1865, “Further Consolidated Appropriations, 2020”, Division Q.
Conclusions are based on information provided by you in response to the questions you answered. Answers do not constitute written advice in response to a specific written request of the taxpayer within the meaning of section 6404(f) of the Internal Revenue Code.
Estimated Completion Time: 12 minutes
Please Note: After 15 minutes of inactivity, you'll be forced to start over.
Caution: Using the "Back" button within the ITA tool could cause an application error.