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agent4cay
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I own a house with my Sister and her husband. They currently live in it and pay the mortgage. How does that work with filling taxes?

 
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‎June 6, 2019 8:08 AM
last updated ‎June 06, 2019 8:08 AM
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Vanessa
Level 3

I own a house with my Sister and her husband. They currently live in it and pay the mortgage. How does that work with filling taxes?

They get to take the mortgage interest deduction since they are the ones who are paying the mortgage.  In order to claim the Mortgage Interest Deduction, you must be legally liable for the mortgage and also pay the mortgage.

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‎June 6, 2019 8:08 AM
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Vanessa
Level 3

I own a house with my Sister and her husband. They currently live in it and pay the mortgage. How does that work with filling taxes?

They get to take the mortgage interest deduction since they are the ones who are paying the mortgage.  In order to claim the Mortgage Interest Deduction, you must be legally liable for the mortgage and also pay the mortgage.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎June 6, 2019 8:08 AM
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