Posted on: 03rd Feb, 2010 10:42 am
my mother signed a quit-claim deed over to my sister. my mother had a second mortgage on the house, and therefore she paid interest on loan.
can she still claim the interest in the 2nd mortgage that she has paid out?
my sister and brother-in-law made the payments including interest on the first mortgage only.
can she still claim the interest in the 2nd mortgage that she has paid out?
my sister and brother-in-law made the payments including interest on the first mortgage only.
If your mother is paying the mortgage, she will be able to claim the interest paid on the second mortgage on her taxes. However, to be on the safer side, you can contact a tax expert in this regard and take his suggestions.