Posted on: 09th Aug, 2010 07:58 am
My mother recently quit claim her house to me. I am currently paying the mortgage and property tax on it. however, the mortgage is still under her name, will I be able to claim taxes on the property?
hi thaniyasungruengyos!
welcome to forums!
as the mortgage is in your mother's name, you won't be able to claim the interest deductions on your taxes. you need to refinance the loan in your name. then you would be able to claim the interest payments on your taxes.
feel free to ask if you've further queries.
sussane
welcome to forums!
as the mortgage is in your mother's name, you won't be able to claim the interest deductions on your taxes. you need to refinance the loan in your name. then you would be able to claim the interest payments on your taxes.
feel free to ask if you've further queries.
sussane