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Get your taxes done using TurboTax
As long as you aren't already paying mortgages on two other houses besides the one your daughter lives in, you should be okay to consider this house a second home for you and deduct your share of mortgage interest and property taxes.
So, if you only have your principal residence and this house, you're good. If you have another house in addition to those two, you'd only be able to deduct interest on two of them, and would want to pick the two with the largest interest amounts.
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‎November 16, 2022
1:54 PM