- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
Possibly. You can deduct interest paid on a mortgage from a private party if all of the following apply:
- "Makes your ownership in a qualified home security for payment of the debt;
- Provides, in case of default, that your home could satisfy the debt; and
- Is recorded or is otherwise perfected under any state or local law that applies."
https://www.irs.gov/publications/p936#en_US_2018_publink1000229894
If your agreement with your relative meets the above criteria, then Yes, you can deduct the interest.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎June 3, 2019
1:05 PM