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roncec1
New Member

Can my son claim the mortgage interest deduction on his tax return if he is not on the mortgage but he is on the property and he pays all of the payments and taxes?

My son has a separate checking account where automatic deductions from his pay check are deposited and the mortgage payments and real estate taxes are automatically take out each month.

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Hal_Al
Level 15

Can my son claim the mortgage interest deduction on his tax return if he is not on the mortgage but he is on the property and he pays all of the payments and taxes?

Yes. Normally, you have to meet the rules, which are:

1. You are legally obligated to pay it

2. You actually pay it.  

But, because he has an "equitable interest", in the property, he has a need to see that the mortgage and tax are paid. So, he  qualifies. Being on the deed proves "equitable interest". The "equitable interest" doctrine has been  up held by the tax court.

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1 Reply
Hal_Al
Level 15

Can my son claim the mortgage interest deduction on his tax return if he is not on the mortgage but he is on the property and he pays all of the payments and taxes?

Yes. Normally, you have to meet the rules, which are:

1. You are legally obligated to pay it

2. You actually pay it.  

But, because he has an "equitable interest", in the property, he has a need to see that the mortgage and tax are paid. So, he  qualifies. Being on the deed proves "equitable interest". The "equitable interest" doctrine has been  up held by the tax court.

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