Posted on: 15th Feb, 2010 09:22 am
I have a home that it is by name only, my daughter lives in it and makes the mortgage and she also put the down payment. who claims the interest at the end of the year. thank you
Hi elfiem,
The borrower of the mortgage will be able to claim the interest on his/her taxes at the year end. If you are the borrower of the mortgage, then you would be able to claim the interest.
The borrower of the mortgage will be able to claim the interest on his/her taxes at the year end. If you are the borrower of the mortgage, then you would be able to claim the interest.
lenders report interest paid to the person whose social security number is attached to the loan, and that's you, elfiem. your daughter won't be able to claim that payment of interest. if she were to do so, the irs would probably disallow the deduction, and she could find herself in a heap of trouble.
we don't want that.
we don't want that.
