The mortgage interest credit is a credit intended to help lower-income individuals own a home. All the

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Question:

The mortgage interest credit is a credit intended to help lower-income individuals own a home. All the following statements about this credit are true, EXCEPT:

The credit is available to taxpayers who have a qualified Mortgage Credit Certificate (MCC) issued by a state or local government unit or agency under a qualified mortgage credit certificate program.

The credit is refundable.

The credit is taken on Form 8396, Mortgage Interest Credit.

The home must be the main residence of the taxpayer and must also be located in the jurisdiction of the government unit that issued the certificate.