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    fljrc3's Avatar
    fljrc3 Posts: 15, Reputation: 1
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    #1

    Feb 11, 2009, 07:31 AM
    Who can Claim Mortgage interest on taxes
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #2

    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's Avatar
    fljrc3 Posts: 15, Reputation: 1
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    #3

    Feb 11, 2009, 11:15 AM
    Quote Originally Posted by ScottGem View Post
    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's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #4

    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.
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