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Mortgage statement lists both names but mine is not first. I pay and am taking 100% of the interest deduction...

Forum|Forum|2 years ago
September 19, 2023
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Do I have to attach a written statement to that effect? I'm including the "Additional Information" page for Schedule A: Itemized deductions that lists the name of the person who appears first on the mortgage. But they are not taking any deductions for the mortgage. Does a hand-written note suffice? Is it even necessary?

TurboTax Deluxe Online

Best answer by xmasbaby0

No do not include a note. It will not be read. Just file your tax return and if the IRS wants additional information from you they will send you a request for the information via a letter.

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xmasbaby0Answer

Employee

No do not include a note. It will not be read. Just file your tax return and if the IRS wants additional information from you they will send you a request for the information via a letter.

**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.**

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pk12_2

Employee

@Midge5 , agreeing with my colleague @xmasbaby0 , just wanted to point out that while the persons ( names ) that show on the loan docs are individually and severally responsible for the payment of the loan, ONLY the person (/s) paying the mortgage is ( /are ) eligible to claim the interest payment as a deduction on Schedule-A.

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TomD8

Employee

For what it's worth, the desktop version of TT has a box you can check if your name is not listed first on the 1098. If you check the box, a page opens on which you enter the other taxpayer's info. Also, if the interest you claim is different than the amount on the 1098, TT takes you to a page on which you can enter a text explanation.

I don't know if the online version has these features.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.