It is not a credit. You can itemize deductions or use the standard deduction. Deductions reduce the amount of your taxable income.
Itemized deductions include amounts you paid for state and local income or sales taxes, real estate taxes, personal property taxes, mortgage interest, and disaster losses from a Federally declared disaster. You may also include gifts to charity and part of the amount you paid for medical and dental expenses.
If the total of the mortgage interest that he will be claiming on his return plus the other itemized deductions exceeds his standard deduction, he will benefit by itemizing on Schedule A (Form 1040)
TurboTax won't split the deductions automatically, you and your husband will decide how to split the 1098 form in whatever way you both agree upon. You must both claim either the Standard Deduction or Itemized Deductions.
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