Can my wife and I claim 100% of the mortgage interest deduction for a house we help purchase for our daughter?
The names on title are all three persons (me, my wife, and our daughter). Can the mortgage interest deduction be split in thirds?
The names on title are all three persons (me, my wife, and our daughter). Can the mortgage interest deduction be split in thirds?
Mortgage interest you paid can only be deducted if it is on a qualified home which is your main home or second home. Unless you live in the home during part of the year, it is neither your main home or second home.
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