🏡 New Tax Break for Mortgage Insurance Premiums (But With Limits)
Beginning in 2026, the OBBBA may allow taxpayers to deduct mortgage insurance premiums on qualified contracts issued after 2006. These deductions will count as part of your qualified residence interest deduction, what seems to be a potential win for homeowners with mortgage insurance.
But here’s the catch:
• The deduction phases out once your AGI exceeds $100,000 ($50,000 if married filing separately).
• By $110,000 AGI (or $55,000 MFS), the deduction is completely gone.
👉 Translation: Middle-income households could see a modest tax benefit, but higher earners likely won’t qualify.
💡 Planning tip: If your income falls near these thresholds, timing could make a difference in whether you benefit from this deduction.

Video Script:
Beginning in 2026, the OBBBA may allow taxpayers to deduct mortgage insurance premiums on qualified mortgages issued after 2006. These deductions count as part of your qualified residence interest deduction—a potential win for homeowners with mortgage insurance. But here’s the catch: the deduction phases out once AGI exceeds $100,000 for joint filers, $50,000 for single or separate filers. By $110,000 AGI for joint filers, or $55,000 for single or separate, the deduction disappears entirely. This has been a tax saving tip from Accounting Solutions. Book a time to learn more.

Disclaimer: This content is provided for educational purposes only and is not legal, tax, accounting, or financial advice. Every situation is unique, so consult your own attorney, CPA, or financial advisor before making decisions based on this information.