Question

I own a 2 family house the mortgage is in my name only, I did a quit claim deed to my daughter , she pays half of the mortgage...she is on the deed, can she claim taxes ,

can she claim taxes, interest or anything on her income tax?

Employee

In order to deduct mortgage interest and property taxes, there are two requirements .

1) You must actually pay the interest and the property taxes.

2) You must be legally liable for the debt or hold title to the property.

If you are both legally liable and both make equal payments, you should each deduct 50% of the mortgage interest and property taxes.

In other words, you should deduct according to your liability and the dollar amount of the deduction you actually paid

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