1. You can no longer deduct the cost of private mortgage insurance premiums.
2. You aren’t getting a tax credit for some of your home energy improvements.
You can take advantage of these provisions when you file your 2011 tax return — but beyond that, who knows.As they point out, it's possible these deductions may be brought back during this year's Congressional sessions, but we certainly can't count on it.
In 2012, home ownership and energy independence advocates will fight to get those expired tax rules back on the books and to have them apply retroactively. It’s a familiar fight — they had to do the same thing at the end of 2010.
But this year, the battle is more complicated because there’s a presidential election, discord between the major parties, and a general lack of consensus on any issues.