In 2022, we purchased and co-own a house with our daughter, who lives there. We pay mortgage, property tax, insurance. Can we deduct mortgage interest, taxes, insurance?

[Greyrock]

Our daughter is paying us, as she can afford to, to increase her ownership stake in the house, but this a co-ownership arrangement, NOT a rental.

[Jimi1970]

Mortgage interest: If your name is on the deed and on the mortgage, you can deduct the interest up to the amount that was paid using your own funds.

Property taxes: If your name is on the deed and you are obligated by the political jurisdiction to pay the property taxes, then you can deduct them up to the amount that was paid using your funds. (State and local laws vary, so who is obligated to pay the property taxes may vary). You only deduct taxes in the year they are paid. You cannot deduct taxes that were paid in advance.

Homeowners insurance: Never deductible on Schedule A. Only deductible as an expense on Schedule E.

[Greyrock]

Thank you, Jimi1970, for the quick and clear response!