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Me and my wife are the co-signer on the mortgage loan, but we the one who pay for the mortgage. My dad is the primary, are we still eligible to get the interest deduction
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June 4, 2019
8:59 PM
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Deductions & credits
To deduct mortgage interest on a property, your name must be on the deed. You need to have an ownership interest in the house. If your name is on the deed, you can deduct the portion of the mortgage interest you personally paid.
June 4, 2019
8:59 PM
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Deductions & credits
Yes. To qualify only two criteria must be met.
1) You must be legally obligated to pay it.
2) You must actually pay it.
June 4, 2019
8:59 PM