How do you answer the question "did you own a home?" if you are paying a mortgage?
The options are only "yes" / "no". I guess, if you are paying a mortgage you technically do not still own a home until you are done paying, but you are still responsible for all other "home owning expenses" (like property tax).
022081
1 Best answer
Vanessa A
Expert Alumni
Mar 29, 2022 4:12:10 PM
If your name is on the deed to the house you own the home. Having a mortgage does not make you not own the home for tax purposes.
2 Replies
Vanessa A
Expert Alumni
Mar 29, 2022 4:12:10 PM
If your name is on the deed to the house you own the home. Having a mortgage does not make you not own the home for tax purposes.
VolvoGirl
Level 15
Mar 29, 2022 4:15:20 PM
It doesn't matter how you answer. I think that question is only to help determine what version you need to use and to ask you questions later about your deductions. I say no on mine so I can skip the itemized deductions since I'm just taking the Standard Deduction.