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In 2018 Jake receives a qualified mortgage credit certificate MCC from California This year, his regular tax liability is $1100 he owes no alternative minimum tax and his Mortgage Interest

In 2018, Jake receives a qualified mortgage credit certificate (MCC) from California. This year, his regular tax liability is $1,100, he owes no alternative minimum tax, and his Mortgage Interest Credit is $1,700. Additionally, Jake claims no other credits. What amount of Jake’s unused Mortgage Interest Credit for this year can he carry forward to the next 3 years or until used, whichever comes first?

A. $0B. $600C. $1,100D. $1,700

Feb 08 2020 View more View Less

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