Major 2017 Tax Changes were in my last software update. If you have already filed check your return.

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February 20, 2018, 05:40 PM

Anush

Major 2017 Tax Changes were in my last software update. If you have already filed check your return.

A heads up to those who have already filed. If you had dependents in college or mortgage insurance on Disclosure/Settlement statements or PMI you may be affected. Congress made significant changes to the law week ago Friday & IRS just released the revised forms. My professional software just reprogrammed for it today. You may have to amend your return. As a CPA I was aware of the upcoming change & held affected returns until today. I just checked a return I have held, $1607 in PMI increased the refund by $240.

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February 23, 2018, 09:09 AM

Karpteach

Thanks for the info. I live in The hellhole known as NY. I claim 0 for a family of 3 and pay state taxes EVERY Year. I few bucks from the feds will work in my favor.

February 24, 2018, 12:36 PM

gpbst3

I just used turbo tax online two days ago. When I got to the PMI it said we made too much for the deduction. Do you know if thats still true.

February 24, 2018, 01:31 PM

tigereye313

Does it still disappear above a certain AGI? If it does, is there any point in filing an amended return with it included?

February 24, 2018, 03:48 PM

dking271

quote:
Originally posted by tigereye313:
Does it still disappear above a certain AGI? If it does, is there any point in filing an amended return with it included?

I’m curious about this too.