Pmi Deduction Calculator

The PMI Tax Deduction Calculator estimates the deductible and non-deductible portions of private mortgage insurance from total PMI paid, adjusted gross income, and filing status. It applies a simplified phase-out model stored in the calculator module.

Calculation method

The model begins phase-out above $100,000 AGI for most filing statuses and above$50,000 for married filing separately. Each additional $1,000 or$500 step reduces deductible PMI by 10%, up to 100%.

$\text{Deductible PMI}=\text{PMI paid}\times(1-\text{Phase-out percentage})$

Example

With $4,000 PMI paid and$105,000 AGI for a non-married-separate filer, the excess is $5,000, which creates five 10$4,000 x 50% = $2,000`.

Questions

Is PMI always deductible?

No. Eligibility and phase-out rules depend on tax year, filing status, income, loan type, and current law.

Does this calculate tax savings?

No. It estimates the deductible PMI amount, not the tax reduction or refund.

What if I file married separately?

The calculator uses a lower threshold and smaller phase-out step for that filing status.

Limitations

The phase-out assumptions are simplified and may not reflect current IRS rules. Verify the applicable tax year and deduction eligibility before filing.