Yes. The mortgage credit certificate is a dollar-for-dollar federal tax liability reduction. You can claim a credit up to $2,000 per year for as long as you owe on the mortgage loan and live in your first home. The credit is taken on the Form 8396 Mortgage Interest Credit.
To enter the certificate in TurboTax do the following while in your return:
- Select Tax Tools located in the menu to the left of the screen
- Click Tools
- Select Topic Search
- Type mortgage interest credit in Search
- Scroll and click mortgage interest credit (qualified home)
It will take you to the interview section of the return. Begin navigating through the prompts to enter your information.