My boyfriend helps pay for my house though he is not on the title, can he still write this payment off on his taxes? How does he do this?
2006-12-15 19:02:04 · 8 answers · asked by girl12 2 in Business & Finance ➔ Taxes ➔ United States
Maybe. The 1098 interest statement will be issued to the person on the loan. Maybe you should deduct it and give him a portion of your refund, that would be the easiest solution. It would be best to check with a tax professional to see how he can deduct this.
2006-12-15 22:21:52 · answer #1 · answered by crazydave 7 · 0⤊ 1⤋
Sorry, but only the person, or people, listed on the loan can take advantage of the interest deduction.
2006-12-16 01:34:36 · answer #2 · answered by besttaxexpert 2 · 1⤊ 0⤋
Your boyfriend is essentially making a gift to you by doing this.
He can't deduct it unless he's legally responsible to pay it - since he's not on the title, or on the loan, then no, he can't.
2006-12-16 08:55:01 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
No he can't, his name would have to be on the loan
2006-12-15 19:04:17 · answer #4 · answered by Kismitt 6 · 2⤊ 0⤋
I think it only applies if he covers over half of the cost. He may also be able to file you as a dependent..Either way.. Go to HR block. They tend to give free consultations.
2006-12-15 19:04:27 · answer #5 · answered by ? 5 · 0⤊ 3⤋
no he has to be on the loan
2006-12-15 19:07:21 · answer #6 · answered by Anonymous · 1⤊ 0⤋
he can if he is payin by check
2006-12-15 19:04:11 · answer #7 · answered by what is the good word? 4 · 0⤊ 2⤋
Of course he can..............he's a good boyfriend.
2006-12-15 19:03:50 · answer #8 · answered by Direktor 5 · 0⤊ 3⤋