When my divorce became final , I was given the house my now ex and I owned together for 8 years. I just found out how ever that legally I still dont own the home 100% because the deed was never taken out of his name, and thus the loan is still in his and my name. I have made all of the payments on the home this year, he has paid nothing. I just really need to know who gets to claim the intrest on the loan, or does it have to be split? He hasnt lived in the home since last January 21, and that months payment came out of my pocket. Any help would be appreciated, I have always done my own taxes, and would really hate to have to go to someone to find out. Thanks again!!!
2007-01-09 11:46:06 · 5 answers · asked by brandy 2 in Business & Finance ➔ Taxes ➔ United States
if you paid the mortgage interest , you are entitled to claim the deduction on Schedule A. do NOT split it. when the 1098 comes from the bank, see who's SS# is on the statement. if your ex's SS# is on the loan and not yours, simply file your tax returns and put the following note on Sch. A.:
"mortgage interest paid, but reported under SS#---------(your ex's SS#)
try to have the deed switched to your name for legal purposes. if you're entitled to the house, it should be in your name. this wont affect your tax return, but legally you should have it straightened out.
2007-01-09 15:42:24 · answer #1 · answered by tma 6 · 0⤊ 0⤋
in the united kingdom you will could desire to chop up your internet aspects 50/50 (after the £20K has been paid off by potential of advertising the homestead) - which is composed of any company or different inner maximum pension fund . additionally and understandably, in uk the device is firmly biased in favour of the toddlers and their destiny help till age sixteen years. so which you will could desire to make provision for that. attempt to organise the financial contract between yourselves on an agreed foundation as a combat over funds will fee you expensive. Judges are inspired with signs and indicators of contract and you are able to honest extra perfect than if it comes right down to a legally imposed result. Bearing all this in ideas - propose that in case you haven't any longer tried counselling and so on you do so previously you proceed to divorce.
2016-11-28 00:41:41 · answer #2 · answered by helmkamp 4 · 0⤊ 0⤋
In my opinion, legally it would be be both of you. But if I was in your shoes, I think I would claim it if I could. What he don't know won't hurt him, unless he's a trouble starter. Your best bet, is if you can, have him sign it over to you and refinance so you can have the house totally in your name. The other option would be to sell it, and any money left over from the sale after the loan is paid off, would be split down the middle between the both of you. If I was him, I'd gladly sign it over to you to get it out of my name. I wish you the best of luck.
2007-01-09 11:54:12 · answer #3 · answered by cajunrescuemedic 6 · 0⤊ 1⤋
Whose name appears on the mortgage? Depending on the SSN that appears on the 1098 form from the lender, that is who the IRS will say "should" deduct the mortgage interest. However, you can allocate it and attach a statement to your return showing that the mortgage interest belongs to you.
2007-01-09 11:52:36 · answer #4 · answered by jseah114 6 · 0⤊ 0⤋
both of you and he/she have to sign it over to ... WHO YOU SAID.
2007-01-09 11:51:14 · answer #5 · answered by martinmm 7 · 0⤊ 1⤋