Extending and Preserving Tax Deductibility of MI
On December 20, 2019 Congress passed an extension of vital homeowner tax relief that included the tax-deductible treatment of mortgage insurance premiums for low- and moderate-income borrowers. The ability of borrowers to deduct MI premiums from federal income taxes should be made permanent because MI premiums are the economic equivalent of mortgage interest payments, and so should remain deductible and at parity with mortgage interest payments.
