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April 13, 2020
Question

Were does mortage credit certifate were do i get the mortage to claim ?

  • April 13, 2020
  • 1 reply
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do i use tne mortage recived from payee thats on my 1098

1 reply

GiseleD
April 13, 2020

No. This should be on the mortgage credit certificate (MCC) from your state or local government you received at the time of purchase. These certificates are issued as part of state and local government programs to help people buy a home. 

 

The credit rate is the percentage used to calculate the mortgage interest credit, and is between 10% and 50% of the qualified mortgage interest you pay. The mortgage credit certificate (MCC) shows the credit rate that applies to you. The government agency who issues your MCC determines this credit rate.

 

Further information on this credit can be found in the TurboTax program under deductions & credits>Mortgage Interest Credit Certificate.

 

Please follow the steps below to enter your "MCC tax credit" Mortgage Credit Certificate when you have you MCC:

 

If you have already started or are in your return,

  1. Select the “Federal Taxes” tab
  2. Select the “Deductions & Credits” tab, then select “I’ll choose what I work on
  3. Scroll down to the “Your Home” section, then select Start or Update - Mortgage Interest Credit Certificate
  4. Answer “Yes” to “Do You Have a Mortgage Credit Certificate” and select “Continue
  5. Continue adding the information requested on the following screens from the certificate(s) you have and select Continue when finished with each. For the mortgage interest field, only enter mortgage interest that was for the loan covered by your certificate (do not use interest from other loans).
  6. If you have more than one certificate, select “Done” when you have finished entering all of them, then press Continue.
  7. On the “Qualified Main Home Address, enter the address of the home that you received the Mortgage Credit Certificate for, and select Continue
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