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usharoan
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Home mortgage interest deduction

My fiance and i live together in my condominum.  The property is under my name as well as the mortgage. If my fiance pays the mortgage each month can he take the mortgage interest deduction?  We are under the impression that this is allowed as he lives in the property (main home) and pays the mortgage directly to the bank. When we ran through the Turbo tax questions, it allowed him to deduct it even though the property is only under my name.  We checked with a Tax Partner at a global accounting firm and he advised that this is not allowed. Therefore, can you please help us understand the tax rule and why your program allowed him to deduct? Thank you.
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1 Reply

Home mortgage interest deduction

If your fiancé doesn't co own the property and is not legally responsible for the mortgage debt, his mortgage interest payments are a non deductible expense.

See Deducting Mortgage Interest FAQs

https://turbotax.intuit.com/tax-tools/tax-tips/Home-Ownership/Deducting-Mortgage-Interest-FAQs/INF12...

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