RobertG
Expert Alumni

Deductions & credits

You don't have to report it on your tax return.

 

Under Section 1041(a) of the Internal Revenue Code, spouses can transfer property to each other (or ex-spouses if the transfer is pursuant to a divorce) without recognizing gain (or loss) on the transaction. 

 

As to the mortgage payments, they are deductible by any person who is liable for the loan, and makes the payments.

 

@jet90

 

 [Edited 01/24/2020|8:09 PST]

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