Get the POWER of PRO!
Support Center > Knowledge base> Article: Mortgage Interest Credit Refinance Credit Allocation

Mortgage Interest Credit Refinance Credit Allocation

Article ID: 33890 Email Print
Question
Mortgage Interest Credit Refinance Credit Allocation

Answer

If the certificate credit rate shown on line 2 is more than 20%, multiply line 1 by line 2, but do not enter more than $2,000 on line 3. If you and someone else (other than your spouse if filing jointly) held an interest in the home, the $2,000 limit must be allocated to each owner in proportion to the interest held. See Dividing the Credit in Pub. 530 for an example of how to make the allocation.


related articles

Article Details
Views: 498 Created on: Jun 15, 2013
Date updated: Sep 22, 2015

Poor Outstanding