topic Please follow the steps below to enter your "MCC tax cred... in Get your taxes done using TurboTax

How do I enter the MCC tax credit?

muscleheadz86 — Sat, 01 Jun 2019 04:43:08 GMT

Please follow the steps below to enter your "MCC tax cred...

AshleyRose — Sat, 01 Jun 2019 04:43:09 GMT

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

If you have already started or are in your return,

Select the “Federal Taxes” tab
Select the “Deductions & Credits” tab, then select “I’ll choose what I work on”
Scroll down to the “Your Home” section, then select Start or Update - Mortgage Interest Credit Certificate
Answer “Yes” to “Do You Have a Mortgage Credit Certificate” and select “Continue”
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).
If you have more than one certificate, select “Done” when you have finished entering all of them, then press Continue.
On the “Qualified Main Home Address, enter the address of the home that you received the Mortgage Credit Certificate for, and select Continue

Deducting Mortgage Interest FAQs:

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Deducting-Mortgage-Interest-FAQs/INF12...

Can you use the free version to insert the MCC?

alykoz — Sat, 01 Jun 2019 04:43:11 GMT

Can you use the free version to insert the MCC?

Ya can you use the free one to do this part?

arieldavenport — Sat, 01 Jun 2019 04:43:14 GMT

Ya can you use the free one to do this part?

.

patano_anthony — Mon, 22 Jan 2024 00:31:08 GMT

I tried to enter the mcc certificate and it says that I n...

contreras051590 — Sat, 01 Jun 2019 04:43:18 GMT

I tried to enter the mcc certificate and it says that I need to upgrade to delux

Still not fully understanding the answer on Mortgage Inte...

abreton7 — Sat, 01 Jun 2019 04:43:19 GMT

Still not fully understanding the answer on Mortgage Interest Field. By this, you mean the full interest portion of the original loan (i.e. years ago)? That field comes with no instructions and my MCC does not have a field for that specific piece of information (at least not an obvious one).

Re: Still not fully understanding the answer on Mortgage Inte...

ignaciofrank — Wed, 29 Jan 2020 00:31:18 GMT

The actual IRS form for the Mortgage Credit Interest (Mortgage Credit Certificate) interest is 8396. The 2 boxes I had trouble with were with the Credit Rate and Mortgage Interest boxes. The Credit Date can be found on the actual MCC. mine was 20%. The Mortgage Interest is the amount you paid towards interest in wichever year you are filing for. It can be found on your 1098 form in box 1.

Re: How do I enter the MCC tax credit?

JosephF8 — Mon, 03 Feb 2020 15:09:24 GMT

Did you receive a Mortgage Credit Certificate? If yes:

To get to the Mortgage Credit Certificate questions in TurboTax

Open (continue) your return
Under Federal choose Deductions and Credits.
Under Your Home select Start or Revisit next to Mortgage Interest Credit Certificate

Follow the prompts

Re: Please follow the steps below to enter your "MCC tax cred...

SlyGuy — Fri, 28 Feb 2020 21:59:44 GMT

When calculating interest paid, do points paid to buy down the rate count? Essentially this is prepaid interest isn't it?

Re: Please follow the steps below to enter your "MCC tax cred...

KrisD15 — Sat, 29 Feb 2020 02:02:18 GMT

Yes, if they were paid in 2019.

Re: Please follow the steps below to enter your "MCC tax cred...

pennynchung — Tue, 21 Apr 2020 15:26:22 GMT

I followed these steps, MCC showed at my case $3,137 but it didn't apply to this year to reduce my tax liability (it forward to the next year instead), while I still owe $3,700 tax liability. Why? And how do I fix it?