When writing off interest on your home that someone else pays a portion of, do you divide the amount of the loan in half when it asks you how much you owe on the house?
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When writing off interest on your home that someone else pays a portion of, do you divide the amount of the loan in half when it asks you how much you owe on the house?
When writing off interest on your home that someone else pays a portion of, do you divide the amount of the loan in half when it asks you how much you owe on the house?
Only the person who is legally liable for the mortgage can take a deduction. If the other person is also listed on the mortgage then you can each deduct the portion that you paid.