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wcwboyd3
New Member

Where do I find what is needed for Form 8396, Line 1? All I have is a Form 1098, I DID NOT RECEIVE A MCC.

 
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JohnW15
Intuit Alumni

Where do I find what is needed for Form 8396, Line 1? All I have is a Form 1098, I DID NOT RECEIVE A MCC.

This is from the IRS' instructions on page 2 of Form 8396:  

Line 1
Enter the interest you paid during the year on the loan amount (certified indebtedness amount) shown on your MCC.
In most cases, this will be the amount in box 1 on Form 1098, Mortgage Interest Statement, or on a similar statement you received from your mortgage holder.
If the loan amount on your MCC is less than your total mortgage loan, you must allocate the interest to determine the part that relates to the loan covered by the MCC.



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5 Replies
JohnW15
Intuit Alumni

Where do I find what is needed for Form 8396, Line 1? All I have is a Form 1098, I DID NOT RECEIVE A MCC.

This is from the IRS' instructions on page 2 of Form 8396:  

Line 1
Enter the interest you paid during the year on the loan amount (certified indebtedness amount) shown on your MCC.
In most cases, this will be the amount in box 1 on Form 1098, Mortgage Interest Statement, or on a similar statement you received from your mortgage holder.
If the loan amount on your MCC is less than your total mortgage loan, you must allocate the interest to determine the part that relates to the loan covered by the MCC.



wcwboyd3
New Member

Where do I find what is needed for Form 8396, Line 1? All I have is a Form 1098, I DID NOT RECEIVE A MCC.

I did not receive a MCC, so what do I do?
JohnW15
Intuit Alumni

Where do I find what is needed for Form 8396, Line 1? All I have is a Form 1098, I DID NOT RECEIVE A MCC.

You said you received Form 1098... so if there's an amount in box 1 of Form 1098, enter that, as the IRS instructions say.
wcwboyd3
New Member

Where do I find what is needed for Form 8396, Line 1? All I have is a Form 1098, I DID NOT RECEIVE A MCC.

Thank you
JohnW15
Intuit Alumni

Where do I find what is needed for Form 8396, Line 1? All I have is a Form 1098, I DID NOT RECEIVE A MCC.

You bet.  Have a great day!

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