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MI Tax Deductibility Extended for 2017

MI Tax Deductibility

Homeowners can claim the MI tax deduction on their federal tax return for the 2017 tax year. Congress recently passed legislation that allows homeowners with adjusted household incomes of $109,000 or less to to claim the MI tax deduction on their federal tax return retroactive to January 1, 2017. This can mean an estimated annual savings of $200 — $400 for your borrowers who need it most.

Homeowners should consult a tax professional for tax advice. Get the details.