- My mother placed her Home in a Trust before she passed away, leaving my sister and I as the only Co-Trustees and my sister and I (along with our respective children) as Beneficiaries under the Trust.
- The Home is deeded in the name of the Trust.
- My mother took out a Home Equity Line of Credit ("HELOC") on the Home before she passed away, which still has an outstanding balance.
- I have been living in the Home (my sister lives out of state) ever since my my mother passed away.
- I have made all payments on the HELOC, property taxes, homeowner's insurance, utility bills, repairs, etc. since my mother passed away.
- Each year since my mother passed away, I have used the Form 1098 interest paid on the HELOC as a deduction against the Trust's taxes.
- The Form 1098s for the interest paid on the HELOC, including this year's Form 1098, indicates that my late mother (and not the Trust) is the borrower and lists her social security number.
QUESTION: Can I use the Form 1098 interest paid as a deduction against my PERSONAL taxes instead of as a deduction against the Trust's taxes?
