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Can I take the Mortgage Interest Credit AND the deduction for mortgage interest that was reported on Form 1098 on the same return?

Yes. It is possible to take the Mortgage Interest Credit and the deduction for home mortgage interest. However, if you received a qualifying Mortgage Credit Certificate (MCC) and you also want to claim the home mortgage interest deduction

Deduction for Mortgage Insurance Premiums (Overview)

> Itemized Deductions > Mortgage Interest and Expenses. Once you are done entering any mortgage interest that you paid, you will be taken to the Schedule A Interest menu where you can select PMI Deduction . Q. Where can I find the deductible

Where do I enter mortgage interest?

If the Mortgage Interest is for your main home , you would enter the Mortgage Interest as an Itemized Deduction. The entry would be made by selecting Federal Section > Deductions > Enter Myself > Itemized Deductions > Mortgage Interest

I received Form 1098 for my mortgage interest. Can I take the Mortgage Interest Credit?

a Form 1098 for the interest that you paid on your mortgage, you cannot claim the Mortgage Interest Credit. You can, however, take a deduction for the amount of the mortgage interest that you paid. Note : Certificates issued by the Federal

Form 1098: What do I do with my Mortgage Interest Statement?

interest, do not reduce your deduction by the refund. Instead, you generally report the amount of the refund as other income. If you did pay any qualifying mortgage interest during the tax year on your main home, you can enter this in your

What is a 1098: Home Mortgage Interest

The Form-1098 reports the home mortgage interest that was paid on your home throughout the current tax year. For an example of this form please click on the link below. Form 1098 sample Form 1098 instructions

Investment Interest Expense Deduction (Form 4952)

Form 4952 is used to determine the amount of investment interest expense you can deduct for the current year and the amount you can carry forward to future years. Your investment interest expense deduction is limited to your net investment

How can I find out if I paid mortgage insurance or not?

In most cases, you will receive a Form 1098, Mortgage Interest Statement , that will report the amount of your qualified premiums in Box 4. If you did pay qualifying mortgage insurance premiums and the deductible amount is not included

Interest You Paid - Overview

reduced by (1) and (2). If one or more of your mortgages does not fit into any of these categories, please visit the link below to refer to IRS Publication 936 , Home Mortgage Interest Deduction, to figure the amount of interest you can

What are the qualifications for the Student Loan Interest Deduction?

You can generally take the student loan interest deduction if all of the following apply: * You paid interest during the tax year on a qualifying student loan. * Your filing status is not married filing separately. * You are legally