Can I claim mortgage interest deduction if my name is in the deed but not on the mortgage?

[Myali11]

I bought a house with my sister. She is the only one who is on the mortgage. But I own 50% of the house since I am in the deed. I pay 1/3 of the mortgage each month. Can I claim mortgage interest deduction if I am in the deed and pay 1/3 of the mortgage and utilities in the house, even though I am not in the mortgage?

[PattiF]

Yes, you can claim your share of the mortgage interest and property taxes that you pay. If you each pay half of the mortgage, then you would each deduct 50% of those items.

[Myali11]

What if I only pay 1/3 of the mortgage, can I still claim it?

[PattiF]

Yes, you can report your share of the mortgage interest that you pay. Divide the amount of interest paid by 3 to find the amount to enter in your taxes.

[Khess82]

Do you need to file a form for this? I already submitted my 2023 tax returns.

[MayaD]

If you already submitted your return, you need to amend it to claim the amount of mortgage interest that you actually paid. 

• You must first wait until the initial return is completely processed.
• You will have to use the same TurboTax account that you used for the original tax return.
• Once you begin your amendment, you'll see your original return.
• The refund calculator will start new at $0 and only reflect the changes in the refund or tax due
• Only make changes to the areas of your return that need amending.

Select your product below and follow the instructions. 

Amend TurboTax Online 

Amend TurboTax CD/Download 

To enter your 1098 mortgage interest statement in:

TurboTax Online

TurboTax Desktop 

However, claiming the mortgage interest might not effect your return.

You can’t deduct home mortgage interest unless the following conditions are met.

1. You file Form 1040 or 1040-SR and itemize deductions on Schedule A (Form 1040).
2. The mortgage is a secured debt on a qualified home in which you have an ownership interest.

For more Information, check: IRS.gov