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I can claim the MCC credit. Does Turbo Tax reduce the amount of mortgage interest claimed as a deduction by the amount of the MCC credit or do I do it manually?
My understanding is that if I can claim 20% of my mortgage interest as an MCC credit, then I can only claim 80% of my mortgage interest as a deduction. Does TurboTax make that adjustment or do I manually reduce the interest (so it differs from the 1098 form)?
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‎June 7, 2019
3:07 PM