Tax Tip #298

Beginning with 2026 tax returns, itemizers can deduct mortgage insurance premiums (MIP) on acquisition indebtedness as part of the mortgage interest write-off. The deduction begins to phase out once AGI exceeds $100,000 & is completely phased out at AGI of $110,000. 

MIP applies when a down payment for a Federal Housing Administration loan is less than 10% of the purchase price.

If you have any questions, feel free to reach out to a team member.