Posted on: 08th Feb, 2010 11:36 am
my son is on deed/title on the house, but not on loan, can he claim interest on the loan on his income tax?
No, if he's not on the mortgage, he has no interest to write off.
lenders report interest paid to the borrower whose social security number appears on their loan; that information is also supplied to the irs, so someone claiming it who isn't eligible is taking a big risk, as well.
