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Njpl
New Member

Deduct points but not interest?

My 26 year-old daughter and I bought a condo together with a JTWROS mortgage.  We both put in equal amounts for the down payment and I paid the closing costs along with points.  She is living there and paying the mortgage and condo fee fully (as was intended) so she gets the 1098.  My question is, would I be able to deduct the points I paid without the 1098?

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1 Reply
KrisD15
Expert Alumni

Deduct points but not interest?

Yes, but ONLY if this is your main home. 

If this is your daughter's main home and a second home for you, only your daughter can claim the points for the tax year paid. 

 

This is because points are only allowed to be claimed the year paid for a main home, it has nothing to do with the 1098 being issued in the name of your daughter. 

 

The 1098 does not need to name you if

You are responsible for the loan

You paid the payments

 

TurboTax allows interest to be claimed when the 1098 is in the name of a co-owner. 

 

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