My ex-fiance claimed the mortgage on his taxes last year. We broke up, and before he left said I could have it for this year. (I refinanced into my name before he moved out.) The interest statement from the old finance co. came to me, but since he is vindictive I'm afraid he will get a copy and claim it on his return. If he does, or did, will the IRS bounce back my return? Or will they demand $$ from me down the road?
2007-01-31 12:48:14 · 2 answers · asked by sandiemaye 4 in Business & Finance ➔ Taxes ➔ United States
If the title and the loan is in your name, and you paid the mortgage interest, you get the deduction.
You deduct what YOU paid. IRS has to accept the return before it can make any such determination. If your fiance also claims the taxes then you need to prove who paid how much to resolve the issue.
You do get to deduct in part or in full the cost of the refinance.
2007-01-31 12:55:17 · answer #1 · answered by Anonymous · 2⤊ 0⤋
If you submit the original, he will be the one to take the tax hit, not you, if he tries to claim it with a copy. If you want to cover your butt, and I would! Then I would submit a letter with the return stating his name, address, and other ID you have, and put it in writing that the interest statement is yours to claim, and to please note the mortgage (copy enclosed) is in your name as well as of .......... date. That way you're covered!
The IRS will put a note against it in their files to make sure it's not claimed twice (by him.) Then you won't have to worry any longer.
2007-01-31 12:58:18 · answer #2 · answered by Anonymous · 0⤊ 2⤋