In order to report my mortgage interest credit for the current year, do I fill in the "Mortgage Interest, Refinancing, and Insurance (Form 1098)" section? Or the "Mortgage Interest Credit Certificate" section? Or both?
Note: Both of these sections are located in the "Deductions and Credits" section.
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To report the Mortgage Interest paid from a 1098, report as follows:
1. Go to Federal.
2. Select Deductions and Credits.
3. Select Your Home.
4. The first choice in this section is Mortgage Interest, Refinancing and Interest (1098).
You will enter the information from your 1098 form in this area.
To report the Mortgage Interest paid from a 1098, report as follows:
1. Go to Federal.
2. Select Deductions and Credits.
3. Select Your Home.
4. The first choice in this section is Mortgage Interest, Refinancing and Interest (1098).
You will enter the information from your 1098 form in this area.
entered 1098 informtio, but interest certificate also show the same number but ignors clicking the button for I don't have a certificate
If you do not have a Mortgage Credit Credit Certificate (MCC) but it is showing up in TurboTax, you will need to delete Form 8396. Type mcc into the search bar and use the Jump to link to be taken directly to the entry screen.
I do have a Mortgage Interest Credit Certificate.
In TTDeluxe, there is a field for 'mortgage interest.' Do I enter my entire mortgage interest shown on my 1098, and TT will calculate the percentage of the deduction based on the credit rate %? OR, do I have to calculate the mortgage interest?
The is a place in the Your Home section to enter your Mortgage Interest Credit Certificate. You can also search for mcc to be taken directly to the entry screen. @OhhTaxes
Enter the 1098 in the Mortgage Interest, Refinancing section and enter the MCC in the Mortgage Interest Credit Certificate section.
Yes, thank you. And in that section there are fields for
SO, do I enter my entire mortgage interest as shown on my 1098 and let TTDeluxe calculate the amount I get a credit for based on my credit rate %, or do I need to calculate it and enter into the 'mortgage interest' field?
Follow the interview screens and enter what it asks for even if you have already entered the info already. If the program did NOT want the info a second time it would say so.
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