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Deductions & credits
Hi Mikaki,
Can you explain the contradiction in your answer to the one pasted below and irs website link, Can you tell us where and provide a link that you must be on the mortgage in addition to being on the deed as a co-owner?
Pasted response by someone else:
Yes, if you’re a legal owner of the home and pay the entire mortgage, you can claim the full amount of mortgage interest and taxes [if you paid]if you itemize on Schedule A.
You can deduct home mortgage interest if all the following conditions are met.
1.You file Form 1040 and itemize deductions on Schedule A (Form 1040).
2.The mortgage is a secured debt on a qualified home in which you have an ownership interest.
Taxpayers are responsible for deducting the correct amount of interest paid,
Can you explain the contradiction in your answer to the one pasted below and irs website link, Can you tell us where and provide a link that you must be on the mortgage in addition to being on the deed as a co-owner?
Pasted response by someone else:
Yes, if you’re a legal owner of the home and pay the entire mortgage, you can claim the full amount of mortgage interest and taxes [if you paid]if you itemize on Schedule A.
You can deduct home mortgage interest if all the following conditions are met.
1.You file Form 1040 and itemize deductions on Schedule A (Form 1040).
2.The mortgage is a secured debt on a qualified home in which you have an ownership interest.
Taxpayers are responsible for deducting the correct amount of interest paid,
June 5, 2019
10:10 PM