shirleycarp
Feb 10, 2010, 11:33 PM
My mom is not able to deduct mortgage interest because she has a annuity that she pays no federal tax. I make 75%v of the house payment but my name is not on the loan. Can I deduct the mortgage intersest on my imcome taxes?
ebaines
Feb 11, 2010, 01:28 PM
my mom is not able to deduct mortgage interest because she has a annuity that she pays no federal tax. i make 75%v of the house payment but my name is not on the loan. can i deduct the mortgage intersest on my imcome taxes?
Shirley - first - please do not tag a new question onto the end of an old thread like this. You should start a new question thread instead. {MOD Note: Thread moved}
But to answer your qustion - no, you can not deduct the mortgage interest. The reason is that you can only deduct interest if you are legally obligated to pay the mortgage. But you are not legally obligated to pay since your name is not on the mortgage, Consequently when the bank issues its 1098 form, it is addressed to your mother, not you.