Posted on: 29th Dec, 2008 01:59 pm
Hello, My boyfriend and I purchased a home last August 2007. Because he has a great credit history, the mortgage is under his name. We have been spliting house payments and I was wondering if I can claim the house when I file my 2008 taxes. Will I be able to claim the entire year as long as I file the proper paper work by the 31st of this year? Also, will my credit score be a factor with the quit claim?
Hi melaniescruz,
If you have proper documents to prove that you have been making mortgage payments, then you may claim tax benefits. But I think it will be difficult for you as your name is not on the mortgage payments. It will be better if you take the advice of a tax adviser. Credit score will not affect your signing a quitclaim deed.
Thanks
If you have proper documents to prove that you have been making mortgage payments, then you may claim tax benefits. But I think it will be difficult for you as your name is not on the mortgage payments. It will be better if you take the advice of a tax adviser. Credit score will not affect your signing a quitclaim deed.
Thanks
You cannot claim the interest deduction unless you are liable for the debt. In other words, your name must be on the mortgage to claim the mortgage deduction.
