Tax guide

Can I deduct private mortgage insurance premiums?

Updated for filing 2021 tax returns

Yes; through tax year 2021, 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 was extended through the 2021 tax year by the Consolidated Appropriations Act.

For more information, see our Tax Breaks for Homeowners page on the Tax Guide.

Sign Up

Still have questions?

You got it. We’re always here to help.

Here's what we found in our blog for file online with 1040.com:

How Do Tax Brackets Work?

Tax brackets help determine your taxes owed-let's take a look at how they work!

Read

The 1040 Postcard-What's to Know?

The Form 1040 postcard has been released, but what does it actually say? Read on!

Read

Freelancer Taxes Bootcamp: What You Need to Know

Don't get overwhelmed-get it done. Here's how to organize your records so you can coast through your taxes in April.

Read

5 Tax Tips for Filing in 2022

We're officially in April, which means Tax Day is just around the corner-here are our five best blog posts to help you out!

Read

Can't Pay Your Tax Bill? 3 Ways to Get Help

With the payment deadline coming up next week, how do you handle a tax bill you just can't afford?

Read

What's the PATH Act?

What exactly is this bill, and why is it delaying refunds?

Read

How Can I Make Money After Graduation?

Getting a bit overwhelmed by the job search? Here are a few ways you can make some money after graduation.

Read

Help! I Can't Pay My Taxes!

Can't come up with the money before April 15? How do you handle paying taxes you just can't afford?

Read

Options After the Ship has Sailed

If you missed the income tax filing deadline, we've got options for you.

Read

3 Urban Myths of Taxes for the Self-Employed

Urban myths about taxes seem to crop up everywhere. Let's set the record straight on some of the most common myths about taxes and self-employment.

Read

It’s not too good to be true. See what others are saying about filing taxes online with 1040.com