Wisconsin 2011: Mortgage Insurance
Taxpayers may include certain mortgage insurance premiums paid as a deduction on the federal Schedule A, Itemized Deductions. Wisconsin does not allow these mortgage insurance amounts to be included in the Wisconsin Itemized Deduction Credit calculation.
Certain customers, who included mortgage insurance premiums in their federal mortgage interest deduction, may have filed an incorrect Wisconsin tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted
You may be affected if ALL of the following are true:
- You filed your 2011 Wisconsin tax return before June 27, 2012 AND
- You had an amount for “Mortgage insurance premiums” on federal Schedule A (Itemized Deductions), Line 13 AND
- Your amount on Wisconsin Form 1, Page 4, Schedule 1, Line2 is EQUAL to the total of your federal Schedule A, Line 10 through 13 amounts
If you are affected, you may have underpaid your Wisconsin tax. You may need to amend your Wisconsin tax return.
You can make the corrections yourself.
- To do it yourself, please follow these step-by-step instructions.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
- If you need assistance, call us at the phone number in the email.
Or let us do the work for you.
- Please download and print this Authorization Form.
- Complete the form and fax it to us at the number printed at the top of the form.
- A TurboTax representative will contact you (within 15 days) when your corrected return is ready to be securely emailed back to you.
- You can print, sign, and mail the corrected return to the state taxing authority.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the Wisconsin 2011: Mortgage Insurance.