[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-8036":3},{"rec_id":4,"title":5,"text":6},"8036","Where do I enter Mortgage Interest Credit (Form 8396)?","Menu Path: \u003Ci>Deductions/Credits > Other Deductions/Credits > Mortgage Credit Certificate (MCC)\u003C/i>\n\u003Cbr>\u003Cbr>\nThe \u003Ci>Mortgage Interest Credit\u003C/i> is intended to help lower-income individuals afford home ownership. If you qualify, you can claim the credit on \u003Ci>Form 8396\u003C/i> each year for part of the home mortgage interest you pay. \n\u003Cbr>\u003Cbr>\nYou may qualify for the credit if you were issued a qualified \u003Ci>Mortgage Credit Certificate (MCC)\u003C/i> from your state or local government when you first purchased or refinanced your home. The \u003Ci>MCC\u003C/i> will show the certificate credit rate and certified indebtedness amount.\n\u003Cbr>\u003Cbr>\nThe home to which the certificate relates must be your main home and also must be located in the jurisdiction of the governmental unit that issued the certificate. \n\u003Cbr>\u003Cbr>\nIf the interest on the mortgage was paid to a related person, you cannot claim the credit.\n\u003Cbr>\u003Cbr>\nIf you itemize your deductions, we'll automatically subtract the \u003Ci>Mortgage Interest Credit\u003C/i> from your home mortgage interest deduction because you can't take both a credit and a deduction on the same amount of mortgage interest.\n\u003Cbr>\u003Cbr>\nIf you purchase a home using an \u003Ci>MCC\u003C/i>, and you sell that home within 9 years, you may have to recapture (repay) all or part of the benefit you received from the \u003Ci>MCC\u003C/i> program. You can do that in the \u003Ci>Misc\u003C/i> section:\n\u003Cbr>\u003Cbr>\nMenu Path: \u003Ci>Misc > Other Taxes > Miscellaneous Recapture Taxes\u003C/i>",1777391473545]