2006-11-07 05:54:07 · 5 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Nope, whomever has the loan/mortgage in their name gets to claim the deduction. Even if they don't claim it
2006-11-07 06:26:17 · answer #1 · answered by Fool in the Rain 6 · 0⤊ 0⤋
No, unless you were a co-signer on the loan, you may not legally claim a mortgage interest deduction for paying someone else's debt.
2006-11-07 14:04:46 · answer #2 · answered by Andreas 3 · 1⤊ 0⤋
nope not your mortgage/not your claim...I know it sucks but thats just the way it is. I bought my mother a car and paid every payment for five years and she got to claim everything related to the car like mileage, etc. even though it all came out of my pocket. Now I just bought her a house and pay the mortgage, she will claim that too.
2006-11-07 14:36:51 · answer #3 · answered by GAgirl 4 · 1⤊ 0⤋
Yes, if you live in the house that your paying the mortgage for. Just remember to keep copies of your mortgage payments and cancelled checks just in case IRS knocks on your door. Also you have to make sure that the other person does not claim it. No double dipping
2006-11-07 13:58:39 · answer #4 · answered by Speedy 8 2 · 0⤊ 2⤋
No it has to be your debt.
2006-11-07 13:58:22 · answer #5 · answered by waggy_33 6 · 0⤊ 0⤋