Mortgage Insurance Tax Deduction Act of 2025

Bill: 119-hr-918
Sponsor: full_name: Rep. Brownley, Julia [D-CA-26]
Introduced: 2025-02-04
Policy area: Taxation
Latest action: action_date: 2025-02-04
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2025-02-04
action_desc: Introduced in House
text: <p><strong>Mortgage Insurance Tax Deduction Act of 2025</strong></p><p>This bill reinstates and makes permanent the itemized tax deduction for mortgage insurance premiums.</p><p>Under current law, only premiums paid before 2022 (and after 2006) for qualified mortgage insurance (mortgage insurance provided by Department of Veterans Affairs, the Federal Housing Administration, the Rural Housing Service, and certain private mortgage insurers) in connection with obtaining a mortgage may be deducted as an itemized tax deduction. (Some limitations apply.).</p>

tv_txt: I 119th CONGRESS 1st Session H. R. 918 IN THE HOUSE OF REPRESENTATIVES February 4, 2025 Ms. Brownley introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums.

1. Short title This Act may be cited as the Mortgage Insurance Tax Deduction Act of 2025 . 2. Deduction for mortgage insurance premiums made permanent (a) In general Section 163(h)(3)(E) of the Internal Revenue Code of 1986 is amended by striking clause (iv). (b) Effective date The amendment made by this section shall apply to amounts paid or accrued after December 31, 2024.