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Information about Form 8396, Mortgage Interest Credit, including recent updates, related forms, and instructions on how to file. Form 8396 is used to figure your mortgage interest credit for the current year and any credit carryforward for the following year.
Mortgage Interest Credit. (For Holders of Qualified Mortgage Credit Certificates Issued by State or Local Governmental Units or Agencies) Attach to Form 1040, 1040-SR, or 1040-NR. Go to www.irs.gov/Form8396 for the latest information.
IRS Form 8396: Mortgage Interest Credit is used by homeowners to claim the mortgage interest credit, but you can only claim it if you receive a mortgage credit certificate.
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.
Form 8396 is the IRS tax form used to determine and report the mortgage interest credit. Learn how this form is used, where to get one, and how to file it.
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.
Learn how to maximize your tax benefits by claiming the Form 8396 Mortgage Interest Credit. Unlock valuable savings on your next tax return.
To claim the credit, complete IRS Form 8396, Mortgage Interest Credit, and attach it to your income tax return. If you itemize your deductions on IRS Schedule A (Form 1040), Itemized Deductions, you must reduce your home mortgage interest deduction by the amount of the mortgage interest credit allowable for the tax year.
When you have a mortgage credit certificate you can submit an IRS form 8396 each tax year for as long as your certificate is valid. And you can do that even if you don’t itemize your deductions...
This video is for qualified homeowners who are looking to take the mortgage interest credit as a dollar-for-dollar tax reduction on their tax return.