There is potentially some important information missing here. You did not ask if he and his dad live together. If they don't, you didn't ask who lives in the house he is asking about and if the other person owns a separate house and takes a deduction for that other house. I am in the same situation as the person who posed the question but your answer doesn't go far enough for me to understand what to do.
I refinanced my house this year to take some cash out and help my son purchase his house. I am the sole owner on the title to the house I live in and I am also on the title, WITH my son, of the house he lives in. The bulk of the investment in the house so far is mine because I provided the down payment, closing costs, and two months of mortgage. However, I also claim my own house for which I have a mortgage as well. Both my son and I work. He will not have enough to itemize deductions. I am self-employed and I do usually itemize deductions. Can I claim the house on my taxes and how would I do that?
