My son & his wife is buying a house from his father-in-law. The father-in-law is still living with them. My son & wife has been making all the payments on the house/bills for a few years now. They even went and refinanced the house and added my daughter-in-law's name to the house. (She has better credit than my son.) This happened in 2021.
When doing my son's taxes, how do I do the mortgage section? I don't remember having to put the father-in-law's name is on his taxes before because his name is first on the 1098 and it's in his SS #.
I got to the part when they asked if this is a refinance of a previous loan. When they did the loan, it was a refinance of the previous loan.
Do I still put that this is a refi of a previous loan?
Do I put that everything they refinanced went to the house, because it did?
Thanks.
