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fljrc3
Feb 11, 2009, 07:31 AM
Who can Claim Mortgage interest on taxes.

I have paid my mothers mortgage (principal and interest) all year.

Can I claim the mortgage interest I paid even though my name is not on Loan?

Kind Regards,
Joe

ScottGem
Feb 11, 2009, 09:19 AM
Only the loan holder can claim the interest. The 1099 issued by the lender will be in the loan holders name and SSN

fljrc3
Feb 11, 2009, 11:15 AM
Only the loan holder can claim the interest. The 1099 issued by the lender will be inthe loan holders name and SSN
I was afraid of that. Is there anything I can do about this coming year?

Also Do you know if I can claim the Property tax portion on my taxes?

ScottGem
Feb 11, 2009, 01:58 PM
If you aren't the owner then no. In fact, its possible these amounts can be considered a gift to your mother and subject to gift taxes.

What you might be able to do is claim mom as a dependent since you are providing a significant amount of her support.