No, interest is listed on the MCC also because the mortgage interest credit helps lower-income individuals purchase and own their own home. If they qualify, they can claim this credit each year based on a portion of their home mortgage interest.
The 1098 form is used for taxpayers to claim their mortgage interest as an itemized deduction. The MCC is for lower income individuals who own home to claim a credit on the mortgage interest that they pay but who otherwise are claiming a standard deduction.
In a sense, interest reported on a 1098 and on a MCC are used for two different purposes. I hope this clarifies the confusion.
@Lovejoy
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