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FACULTY MORTGAGE INTEREST REIMBURSEMENT PROGRAM During its June 2011 meeting, the Board of Trustees of Colgate University (Colgate or University) approved a Faculty Mortgage Interest Reimbursement

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What is mortgage interest credit?

Mortgage interest credit is a tax credit for homeowners who meet certain income and housing criteria.

Who is required to file mortgage interest credit?

Homeowners who meet the eligibility requirements for the credit are required to file for mortgage interest credit.

How to fill out mortgage interest credit?

To fill out mortgage interest credit, homeowners need to report the amount of mortgage interest paid during the tax year on their tax return.

What is the purpose of mortgage interest credit?

The purpose of mortgage interest credit is to provide tax relief to homeowners who are paying a significant amount of interest on their mortgage.

What information must be reported on mortgage interest credit?

Homeowners must report the amount of mortgage interest paid during the tax year, as well as any other relevant information requested by the tax authorities.

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