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If I am paying half my mortgage payment/interest and taxes but only owning 10% of house, may i claim tax and interest exemptions?
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If I am paying half my mortgage payment/interest and taxes but only owning 10% of house, may i claim tax and interest exemptions?
Yes, since you are an owner of the house, you can claim the deduction for the interest and taxes you paid. However, the deductions are only beneficial if you itemize. Interest and real estate tax deductions are entered on Schedule A.
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