Dear friend,
Thank you so much for your response, which I am very late responding to because I had an awful fall down our stairs. I am home from the hospital now though and have recovered significantly.
You said, "You could only claim the interest paid if you are on the loan".
I wanted to let you know that I also asked this question of an online tax professional, who said "Treas. Reg. § 1.163-1(b) permits a deduction for interest paid on a mortgage when a taxpayer is the legal or equitable owner of the property, even though the taxpayer is not directly liable for the mortgage."
Since I inherited the property from my daughter and paid the mortgage for over a year until the house was finally sold, it seems I am able to claim the mortgage interest.
My question was poorly worded, which probably explains your response, which focused on the second part of my question, having to do with the fact that I also wondered whether I could somehow get credit for the January payment which I loaned to my daughter.
I'll clarify this comment if you wish. Thank you again for your response.
Bob Schrader
