Deduct property taxes and interest

foxsea7777 · ‎January 30, 2020

Deduct property taxes and interest My daughters name is on the mortgage but I pay the mortgage and the taxes can I deduct the interest and taxes on the house.

JulieS · ‎January 30, 2020

To deduct property taxes, you must both own the home and pay the taxes.

See instruction here.

To deduct mortgage interest, you must be liable for the loan as well paying the mortgage payment. Your name doesn't have to be on the 1098-INT, if you are liable for the mortgage.

See instruction here.

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foxsea7777 · ‎February 2, 2020

Next question can you claim your interest on your credit cards?

DoninGA · ‎February 2, 2020

@foxsea7777 wrote:

Next question can you claim your interest on your credit cards?

No. Credit card interest payments are not deductible on a tax return.

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Deduct property taxes and interest