Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities

U.S. Government Accountability Office

Deduction for mortgage insurance premiums

Administering Agency/Entity Internal Revenue Service
Short Description Allowed taxpayers to treat qualified mortgage insurance premiums as tax-deductible interest. Mortgage insurance premiums paid to the Department of Veterans Affairs, Federal Housing Administration, Rural Housing Administration, and private insurers qualified for the deduction. The deduction was reduced for taxpayers with an adjusted gross income (AGI) of more than $100,000 ($50,000 if married filing separately), and was zero for AGI of more than $109,000 ($54,500 married filing separately). This provision expired on December 31, 2011.
Primary Purpose Assistance for buying, selling, or financing a home
Type of Housing Supported Homeownership
Type of Assistance Tax exclusion, exemption or deduction
Estimated Revenue Loss1 $300,000,000; revenue losses for fiscal year 2010 were estimated by the Joint Committee on Taxation. This provision expired on December 31, 2011.

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