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mortgage calculations

What Is the Mortgage Insurance Premium Deduction?

This deduction could save you hundreds of dollars -- if you qualify.

[Updated: May 19, 2021 ] Apr 16, 2021 by Matt Frankel, CFP
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Tax Filing Status 2020 Standard Deduction 2021 Standard Deduction
Single $12,400 $12,550
Married Filing Jointly $24,800 $25,100
Head of Household $18,650 $18,800
Married Filing Separately $12,400 $12,550

Data source: IRS.