Homeowners Premium Tax Reduction Act of 2026 creates an above-the-line deduction for homeowners insurance premiums up to $10,000.

The Homeowners Premium Tax Reduction Act of 2026 amends the Internal Revenue Code to introduce an above-the-line deduction for homeowners insurance premiums. This deduction allows individuals to deduct up to $10,000 of qualified insurance premiums paid for their principal residence. The deduction applies to taxable years ending after the enactment of this Act.

Homeowners Premium Tax Reduction Act of 2026 creates an above-the-line deduction for homeowners insurance premiums up to $10,000.

The Homeowners Premium Tax Reduction Act of 2026 amends the Internal Revenue Code to introduce an above-the-line deduction for homeowners insurance premiums. This deduction allows individuals to deduct up to $10,000 of qualified insurance premiums paid for their principal residence. The deduction applies to taxable years ending after the enactment of this Act.