So since the property is in his name and the partnership pays the actual mortgage.
- The partnership cannot take the interest deduction on the partnership return?
- Can they deduct property taxes and insurance that are in escrow as part of the payment?
- Does the owner of the property take these as deductions? If so, how can he claim the deduction, when he doesn't actually pay for the home?
- Does he pick those amounts up on Schedule E of his personal return as rental income and depreciate the property there?
