| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 1,769,052,210 visitors served. |
|
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
Mortgage Interest Credit |
0.02 sec. |
|
Mortgage Interest Credit Qualified taxpayers who receive a mortgage credit certificate from a state or local government in connection with a new mortgage for the purchase of their main may claim a credit for a percentage of their home mortgage interest. The percentage is set by the government and ranges from 10 to 50 percent. If the percentage exceeds 20 percent, the maximum credit is $2,000 per year. The itemized deduction for home mortgage interest must be reduced by the amount of the credit. Unused credits can be carried forward for up to 3 years. The credit is computed on Form 8396. If purchase a home using a mortgage credit certificate and you sell the home, you may have to pay back some of the credit. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
|
| ? Mentioned in | |
|---|---|
|
| Financial Dictionary |
| Free Tools: |
For surfers:
Free toolbar & extensions |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup | Partner with us |
|---|