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I have a mortgage credit certificate. I'm getting back other credits and don't "need" it this year. Can I carryforward the credit?

 
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1 Reply
JohnW152
Expert Alumni

I have a mortgage credit certificate. I'm getting back other credits and don't "need" it this year. Can I carryforward the credit?

Yes, you can, but you need to go ahead and enter the mortgage interest credit in TurboTax.  Any unused credit can be carried over to next year's Form 8396

 

To enter your Mortgage Interest Credit Certificate information in TurboTax Online:

  1. Open TurboTax Online
  2. Select Tax Home in the left pane
  3. On the  Hi, let's keep working on your taxes! screen, select the dropdown on the right side of the Deductions & Credits box, then select StartContinue, or Pick up where you left off
  4. On the  Your tax breaks page, scroll down and select the dropdown to the right of Your Home
  5. Select  Start or Revisit to the right of Mortgage Interest Credit Certificate
  6. On the  Do you have a mortgage credit certificate? page, select Yes 
  7. Enter all relevant information on the ensuing pages
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