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SIMBRIAL
Feb 24, 2011, 08:22 AM
I still have one more question.
My husband (us citizen) and i (g1 visa holder) own a property in the us . The mortgage payment is withdrawn automatically from my bank account. How should we proceed with the tax filing in april?
Both our names are on the property, but the mortgage payment is paid off from my personal account. Can my husband claim the property and get 100% tax credit? Or should it be 50% and i thus should claim the property in italy? Or i should be the only one getting the tax credit as i'm the one paying the mortgage, even so the bank put both our names on the mortgage statement as we both applied for the mortgage submitting all our financial papers combined. Is there a way that my husband can be the only one getting the benefit from the property? We file separately.
Many thanks in advance

AtlantaTaxExpert
Mar 11, 2011, 11:52 PM
Since you are NOT liable to pay U.S. taxes, your husband can, by mutual agreement, claim the full mortgage interest deduction on his return.

SIMBRIAL
Mar 13, 2011, 06:27 PM
AtalantaTaxExpert, what do you exactly mean as "mutual agreement"? Should we put something in writing and notarized to be sent to the IRS along with my husband tax return?

AtlantaTaxExpert
Mar 14, 2011, 10:33 AM
Nothing so formal; just tell your spouse to claim the interest deduction on his return.

You need provide a written authorization ONLY IF the IRS challenges the deduction, which is unlikely.

SIMBRIAL
Mar 16, 2011, 06:26 AM
Many thanks as usual. You are always so easy in giving the right answer, which not so many professionals can do.
Thanks again,
Simbrial

AtlantaTaxExpert
Mar 16, 2011, 10:22 AM
Glad to help!