Me and fiance were looking to buy a home.it made sence only using me on loan due to my credit score. He has the better income though, and used his IRA funds for downpayment and closing costs. He is added to title but only i am on the loan. He will be helping me pay for the home. Can he claim the home also come tax season ? Or can he ever ? Must we be married ? I want his contribution to be noticed.
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Generally, the person whose name is on the loan, is the one who claims the Form 1040 Schedule A housing deductions. However, if a person meets the following requirements, they can claim the home deduction:
If you are married then your spouse will automatically be entitled to the home deductions.
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