Posted on: 24th Jan, 2008 04:42 am
my wife and i purchased a home in ohio i am on the mortage but she is on the deed can she claim the mortage intrest if i dont
You must own the property and be liable for the mortgage to take the interest deduction.
http://www.irs.gov/publications/p936/ar02.html#d0e452
http://www.irs.gov/publications/p936/ar02.html#d0e452
Hi dirtrider,
Welcome to the forum.
Are you also on the deed?
I agree with Jhread that your wife needs to be on the mortgage to get the interest deduction.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
Are you also on the deed?
I agree with Jhread that your wife needs to be on the mortgage to get the interest deduction.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Hi Dirtrider,
It's true that one needs to be on the deed as well as on the loan to get deductions on interest. For more details, please refer to a previous discussion on Tax deduction on Interest .
Thanks,
Jerry.
It's true that one needs to be on the deed as well as on the loan to get deductions on interest. For more details, please refer to a previous discussion on Tax deduction on Interest .
Thanks,
Jerry.
if you are filing a joint tax return, you will have no problem.
