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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.
If you need specific directions on how to enter either of them, please comment and I will gladly add the directions with screenshots to this answer.
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.
If you need specific directions on how to enter either of them, please comment and I will gladly add the directions with screenshots to this answer.
Had the same issue last year. The rep went through and said it was an issue on their end- something was not placed proper space. I dont remember what we did to correct it. Please help me.
Angelia Young
Enter the Mortgage Credit Certificate under the "Deductions & Credits" tab.
1. Click "Deductions & Credits" at the top of the page
2. Scroll down to "Your Home"
3. Click "Show More"
4. Find the "Mortgage Credit Certificate"
5. Click "Start/Revisit"
If you itemize deductions you will also go back to the "Your Home" area to find the "Mortgage Interest... form 1098" entry area. TurboTax will calculate the remaining interest deduction based on the MCC entries. Just enter the form 1098 amounts exactly from your form.
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