Solved

Can I claim mortgage interest if my name is on the Deed but not the mortgage?

Forum|Forum|7 years ago
June 5, 2019
3 replies
0 views

No text available

TurboTax Deluxe Online

Best answer by xmasbaby0

Then yes, you can enter the interest paid on the mortgage. If you are on the deed with someone else, you should divide the amounts you paid and report them accordingly on your tax returns.

X

xmasbaby0

Employee

Did you make the mortgage payments?

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

V

vickyochoa71Author

Yes

X

xmasbaby0Answer

Employee

Then yes, you can enter the interest paid on the mortgage. If you are on the deed with someone else, you should divide the amounts you paid and report them accordingly on your tax returns.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

T

TaxGuyBill

Employee

As was mentioned, you can deduct the amounts you actually paid, even if you are not on the mortgage.

It is quite possible the IRS will send you a notice asking about the mortgage interest (because they did not receive a 1098 reporting the mortgage interest in your name), but you can just respond to the IRS notice indicating you are an owner of the home, and made the payments (you may need to show proof).

N

neemazad

(Sorry for the revival of an older thread...)

What documents would be sufficient to show proof of payment? Would this require e.g. 12 bank statements showing, say, half of the mortgage amount deducted from the account each month? (That is, what if the funds are "pooled" each month into the account of the mortgage holder, so there is no direct payment to the Lender?)

Is there a way to pre-empt the notice by including such documentation to begin with? Or is it better just to wait to hear from the IRS?