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Rental2
New Member

Schedule E Interest Expense

My case is a bit complicated.

 

In Spring of 2021, I bought an investment house. It is in my name only. My husband took out a low-interest loan for me to get the home. The loan is in his name only. He was not my husband at the time. He was my fiance/boyfriend.

 

Ins September 2021, I got married. 

 

The house is still in my name only. The loan is still in his name only. We are married filing jointly. Can we take the interest expense he paid on his loan against my house? Can we take this deduction on the schedule E?

 

 

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1 Reply
Carl
Level 15

Schedule E Interest Expense

If the loan is not a secured loan, meaning if the property was not used as collateral to secure the loan, then the interest is not deductible.

 

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