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posted Jun 5, 2019 11:34:34 PM

Can anyone claim the interest on a mortgage loan, or simply the person on the loan?

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1 Best answer
Expert Alumni
Jun 5, 2019 11:34:36 PM

Only the person(s) on the Mortgage Loan can claim the Mortgage Interest, as they are the only person(s) responsible for the payment of the loan.

From IRS Publication 936:

"In Publication 936, the IRS states that you can deduct mortgage interest if you itemize deductions on Schedule A and are “legally liable” for the loan. The IRS also says that you cannot deduct payments you make for someone else if you are not legally liable to make them."

1 Replies
Expert Alumni
Jun 5, 2019 11:34:36 PM

Only the person(s) on the Mortgage Loan can claim the Mortgage Interest, as they are the only person(s) responsible for the payment of the loan.

From IRS Publication 936:

"In Publication 936, the IRS states that you can deduct mortgage interest if you itemize deductions on Schedule A and are “legally liable” for the loan. The IRS also says that you cannot deduct payments you make for someone else if you are not legally liable to make them."