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Level 2
posted Feb 17, 2020 4:29:03 PM

Living in apartment in one state- Own a house in different state

I live in apartment in NY but have a house in NJ where my in-laws stay. I pay half the mortgage for that house but my wife's parents (who live there) claim the house on their return (last 2 years). This year i am planning to claim it on my tax return (married-jointly). Can i do it? Do i have to file for 2 states? Any complications? Appreciate your suggestions.

0 2 371
2 Replies
Level 15
Feb 17, 2020 6:38:01 PM

who borrowed the money? who owns the home?

 

see IRS publication 936.....it states:

 

"Generally, home mortgage interest is any interest you pay on a loan secured by

your

home
(main home or a second home). The loan may  be a mortgage to buy your home, or a second
mortgage." 

 

you may have nothing more than a gift of a very caring son-in-law. 

Level 2
Feb 18, 2020 5:56:35 AM

Appreciate the prompt reply on this question 🙂 It helped.