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hlybty
Returning Member

What is credit rate % in the mortgage interest infor section

 
1 Reply
MichaelDC
New Member

What is credit rate % in the mortgage interest infor section

This should be on the mortgage credit certificate (MCC) from your state or local government you received at the time of purchase. These certificates are issued as part of state and local government programs to help people buy a home. 

The credit rate is the percentage used to calculate the mortgage interest credit, and is between 10% and 50% of the qualified mortgage interest you pay. The mortgage credit certificate (MCC) shows the credit rate that applies to you. The government agency who issues your MCC determines this credit rate.

Further information on this credit can be found in the TurboTax program under deductions & credits>Mortgage Interest Credit Certificate.

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