Understanding The Mortgage Interest Income Tax Deduction. above issues are explained in detail beneath our 2018 homeownership tax benefits calculator.
Mortgage. Interest. Deduction. For use in preparing. 2018Returns. Get forms and other information faster and easier at: IRS.gov (English).
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In addition, a special rule has been extended into 2018 to allow you to treat private mortgage insurance premiums as if they were interest. New laws modified eligibility for the mortgage interest.
In 2018, the new Tax Cuts and Jobs Act lowered the deduction for mortgage interest. To calculate the first year of interest, we used Freddie Mac's reported.