Once the MCC (Mortgage Credit Certificate) and Mortgage Interest is entered into TurboTax at the full amounts the program will reduce the deductible mortgage interest by the amount of the non-refundable MCC.
The adjustments are automatic. It does not appear to matter which order you put them in. Either the Mortgage interest first or the MCC first as long as they are both entered.
Your mortgage interest amount would be reported on form 1098. If you did not receive a 1098, contact your mortgage lender for the amount of interest paid or look to your mortgage statement.
To navigate to the section for qualified mortgage credit certificate holders:
- Sign into your TurboTax Deluxe (online) account
- In the upper right, select My Account, then select Tools
- Select Topic Search (image attached)
- Search for 'mortgage interest credit (qualified mortgage credit certificate holders)' in the box, then select GO
To claim this credit, you must have applied for it when you originally bought or refinanced your home.
- Sign into your TurboTax desktop account.
- In the search box, upper right
- Search for mortgage interest credit (qualified mortgage credit certificate holders)
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Jump to mortgage interest credit (qualified mortgage credit certificate holders) (image attached)
- Follow the screens to enter your information.
