Middle Class Mortgage Insurance Premium Act of 2022
The Act amends the Internal Revenue Code of 1986 to increase the income cap with respect to the mortgage insurance premium deduction from $100,000 ($50,000) to $200,000 ($100,000). Additionally, it makes this deduction permanent by striking the termination clause. The amendments apply to taxable years beginning after December 31, 2021.
Key points
Increases the income cap for the mortgage insurance premium deduction from $100,000 ($50,000) to $200,000 ($100,000).
Makes the mortgage insurance premium deduction permanent.
Applies to taxable years beginning after December 31, 2021.
Expired
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