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In the year of refinancing, add the relevant quantity of interest paid on the old mortgage and the applicable quantity of curiosity paid on the model new mortgage, and enter the entire on Form 8396, line 1. If you refinance your original mortgage mortgage on which you had been given an MCC, you should get a model new MCC to find a way to claim the credit on the model new loan. The quantity of credit you presumably can claim on the brand new loan could change. Table 2 summarizes how to figure your credit when you refinance your authentic mortgage mortgage.
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