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Nov 20, 2020Mortgage Interest Credit
The Home Mortgage Interest Credit is a tax incentive that helps lower-income households afford homeownership. To qualify, you must: Receive an MCC: Obtain a Mortgage Credit Certificate from your state or local housing finance agency when you buy your primary home. Pay Mortgage Interest: Pay up to $2,000 in mortgage interest annually. If you received […]
adminNov 20, 2020First-Time Homebuyer Credit Repayment
If you claimed the First-Time Homebuyer Credit in 2008-2010, you may have to make an annual repayment installment. This is located on your tax returns for those years, form 5405. Use your IRS online account to check your repayment obligation, or contact the IRS directly at 1-800-829-1040, Monday – Friday, 7am-7pm. You will need your […]
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