Pennsylvania HB218 allows a deduction for mortgage insurance premiums on personal income tax returns.
Pennsylvania HB218 amends the Tax Reform Code of 1971 to include a deduction for premiums paid for mortgage insurance on personal income tax returns. This deduction applies to premiums for insurance against nonpayment or default on a residential mortgage. The deduction cannot result in a taxable income less than zero. This change will apply to taxable years beginning after December 31, 2025.
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