Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Feb 1, 2024 11:24:52 AM

Inherited HELOC/Home after my father passed away

I inherited a HELOC loan after my father passed away (2020). Prior to 2023 someone else was paying for everything except for the property taxes and fixing the house. I've paid the taxes on it since he passed away. All of 2023 I paid all the bills. I have been making the payments on the loan, the taxes, utilities, and fixing the house.  The estate has been closed since September 2023 but the HELOC is billed as "Estate of _______ C/O ________ (me)". The house was put in my name in March of 2023 and I added my husband in November 2023 after we got married. Can I/we claim the interest on my personal Taxes?

0 1 89
1 Replies
Expert Alumni
Feb 1, 2024 12:44:07 PM

You can enter the mortgage interest and property tax as itemized deductions on your federal personal tax return provided you are legally obligated to pay the mortgage.