Mortgage Interest Credit – Form 8396
You can claim the mortgage interest credit if both of these are true:
- You have a qualified mortgage credit certificate (MCC).
- The certificate was issued by your state or local government or agency under a qualified MCC program.
To figure your credit, use Form 8396: Mortgage Interest Credit. You must subtract the amount of this credit from your mortgage interest deduction if you do both of these:
- Claim this credit
- Itemize your deductions
To learn more, see Form 8396 at www.irs.gov.
Related Resources
Discover if you can deduct medical expenses for your pets with guidance from the tax experts at H&R Block.
For individual taxpayers, Schedule A is used in conjunction with Form 1040 to report itemized deductions. If you choose to claim itemized deductions instead of the standard deduction, you would use Schedule A to list your deductions. Your itemized total is then subtracted from your taxable income.
Learn whether your state refund is taxable with help from the tax experts at H&R Block.
Learn whether a noncitizen can claim the standard deduction tax credit with advice from the tax experts at H&R Block.
