Reinstated mortgage insurance premium deductibility and a higher cap on state and local tax deductions could change whether homeowners claim these tax breaks.

The One Big Beautiful Bill Act is temporarily raising the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra generous write-off, which is often referred to as the SALT deduction.