Congress Extends Mortgage Insurance Premium Deductions for Tax Year 2017

Congress recently passed the Bipartisan Budget Act of 2018 (Public Law No. 115-123). As a result of the bill passing, the mortgage insurance premium deduction has been extended for tax year 2017.

 

Mortgage insurance premiums are reported on Box 5 of Form 1098.

 

To view the bill in its entirety, please click here.

Author

Adam Rivera

Adam Rivera is a member of the Regulatory Analysis Team’s Direct Tax division at Sovos. His main areas of focus are Federal and State Tax Withholding and Affordable Care Act (ACA) Reporting. Prior to Sovos, Adam worked as a legislative aide in the Florida House of Representatives. He also has experience in securities law, focusing on securities litigation and researching emerging crowdfunding methods of raising capital. Adam is a member of both the Massachusetts and Florida Bars. He earned his B.A. from the University of Florida and his J.D. from the University of Miami.
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