Mortgage Credit Certificate?
deborahshane | March 14, 2011
A Mortgage Credit Certificate (MCC) allows the homebuyer to claim a tax credit for some portion of the mortgage interest paid per year. It is a dollar-for-dollar reduction against their federal tax liability. The mortgage interest credit provided by an MCC is a non-refundable tax credit; therefore, the homebuyer must have a tax liability in [...]
