You can deduct property taxes, but not homeowners insurance or maintenance. If your son just lives there and doesn't pay rent, it is not considered a rental property; no income is reported, and no rental expenses are allowed. You may treat the inherited home as your second home and deduct property taxes, mortgage interest (if any) under Your Home section. Since she is a 50% owner, be sure to deduct only the portion that she actually paid. Other deductions are not allowed for 2nd homes/primary residences.
- Federal Taxes
- Deductions and Credits
- Your Home - Property Taxes
