Posted on: 25th Feb, 2010 08:58 am
Who has the right to claim house on income tax after divorce?
I am paying the house since early 2008 (divorce was final on november 2008). Divorce decree awarded house to me, but after some problems with my ex, I will give house back to her, but the mortgage loan is under her name only. I am on the Title. So, who has the right to claim?
I am paying the house since early 2008 (divorce was final on november 2008). Divorce decree awarded house to me, but after some problems with my ex, I will give house back to her, but the mortgage loan is under her name only. I am on the Title. So, who has the right to claim?
hi marcio,
your ex can claim the mortgage payments on her taxes as she is the one who is on the loan. the lender will also send the year end statement or the form 1098 in your ex's name. thus, you will not be able to claim the mortgage payments on your taxes till the time you refinance the loan in your name.
your ex can claim the mortgage payments on her taxes as she is the one who is on the loan. the lender will also send the year end statement or the form 1098 in your ex's name. thus, you will not be able to claim the mortgage payments on your taxes till the time you refinance the loan in your name.
Well, but she cannot proof the payments and I can...So how that works?
To Marcio,
She can claim the deduction for mortgage interest paid on her taxes, provided she itemized her deductions and had indeed made the mortgage payments. She needs to provide the proof of the payments. If she does not have the proof, she can still claim the standard deduction instead of the itemized deductions. You may be able to claim the mortgage payments on your taxes as you have the proof of the payments you made. However, you can talk to the lender or you can also contact the IRS regarding this.
She can claim the deduction for mortgage interest paid on her taxes, provided she itemized her deductions and had indeed made the mortgage payments. She needs to provide the proof of the payments. If she does not have the proof, she can still claim the standard deduction instead of the itemized deductions. You may be able to claim the mortgage payments on your taxes as you have the proof of the payments you made. However, you can talk to the lender or you can also contact the IRS regarding this.