Qualified mortgage insurance is mortgage insurance provided by the Department of Veterans Affairs, the Federal Housing Administration, or the Rural Housing Service, and private mortgage insurance (as defined in section 2 of the Homeowners Protection Act of 1998 as in effect on December 20, 2006).

Limit on amount you can deduct. You cannot deduct your mortgage insurance premiums if the 1041 AGI is more than $100,000, the deduction is limited and you must use the Mortgage Insurance Premiums Deduction Worksheet to figure your deduction.