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priyanshu1994
New Member

Can I claim mortgage deduction on a house in Texas I co-own with my parents, if I myself rent an apartment and live in California?

My parents are going to live in the house in Texas. I will neither live in nor have any income in Texas.
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MichaelL1
Level 15

Can I claim mortgage deduction on a house in Texas I co-own with my parents, if I myself rent an apartment and live in California?

If your name is on the title to the home in Texas, you are listed on the mortgage and you make payments on the mortgage you can deduct the interest on the home on your tax return. 

Home being in Texas has no impact and actually nowhere in TurboTax do you need to say where the home is located. 

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5 Replies
MichaelL1
Level 15

Can I claim mortgage deduction on a house in Texas I co-own with my parents, if I myself rent an apartment and live in California?

If your name is on the title to the home in Texas, you are listed on the mortgage and you make payments on the mortgage you can deduct the interest on the home on your tax return. 

Home being in Texas has no impact and actually nowhere in TurboTax do you need to say where the home is located. 

priyanshu1994
New Member

Can I claim mortgage deduction on a house in Texas I co-own with my parents, if I myself rent an apartment and live in California?

Does the house not being my residence have any impact?
MichaelL1
Level 15

Can I claim mortgage deduction on a house in Texas I co-own with my parents, if I myself rent an apartment and live in California?

No, it could be considered your 2nd home and it gets entered in the same place in TurboTax.
priyanshu1994
New Member

Can I claim mortgage deduction on a house in Texas I co-own with my parents, if I myself rent an apartment and live in California?

Got it! Thanks!
MichaelL1
Level 15

Can I claim mortgage deduction on a house in Texas I co-own with my parents, if I myself rent an apartment and live in California?

my pleasure

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