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Dec 19, 2022 · Form 8396 is the form taxpayers can use to calculate the mortgage interest credit for the year and any carryover of the credit to next year. You would use Form 8396 to report your mortgage interest credit to the IRS if you purchased a home this year and received a qualified Mortgage Credit Certificate (MCC). Form 8396.
Mar 8, 2024 · Understanding Form 8396 Mortgage Interest Credit is your ticket to claiming the credit for mortgage interest paid on your qualified home. This essential form requires a mortgage credit certificate (MCC) from a state or local government agency, issued under a qualified mortgage credit certificate program.
Jul 3, 2023 · In this article, we’ll walk you through: How to claim the mortgage interest credit on IRS Form 8396. Who qualifies for the mortgage interest credit. Commonly asked questions. Let’s start with a step by step walkthrough of IRS Form 8396.
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.
Form 8396 is for holders of Qualified Mortgage Credit Certificates (MCC) issued by state or local governmental units or agencies; the certificate credit rate is shown on the certificate. To access Form 1098 and report mortgage interest paid, go to our Form 1098 - Entering in Program FAQ.
Form 8396 is an IRS form used by homeowners to apply for a mortgage. The purpose of the mortgage is to help low-income taxpayers pay for their housing. You can only apply for a credit if you receive a mortgage certificate (MCC) from a local or state government agency.
We last updated the Mortgage Interest Credit in February 2024, so this is the latest version of Form 8396, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 8396 directly from TaxFormFinder. You can print other Federal tax forms here.
