Severance Pay / AGI / PMI Deductions I was divorced in January 2010. I refinanced my home but wound up having to take an FHA loan since the house didn't appraise due to market conditions. I was laid off on October 31st of 2010 and received a severance.
In doing my taxes, I was told my PMI would be deductible. It told me I wasn't eligible. Come to find out, the severance pay pushed me out of the AGI bracket to make it deductible.
Is there any way to get around this? It impacted by refund by over $3000.00.
Any insight is appreciated. |