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
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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
Only the loan holder can claim the interest. The 1099 issued by the lender will be in the loan holders name and SSN
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.
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