UPDATED FOR TAX YEAR 2019
Yes. The USDA guarantee fee, like the VA funding fee, is considered a type of mortgage insurance. In late 2019, Congress extended an expired tax provision that allows homeowners to deduct private mortgage insurance and other eligible mortgage insurance premiums. The tax break expired at the end of 2017, but the extension allows eligible homeowners to claim the deduction for their 2018, 2019 and 2020 federal income taxes.
[Edited | 4/9/2020 | 10:37am PDT]
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June 4, 201910:35 PM
