Who claims property taxes when a Quit Claim Deed i...
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JWillerMp
Returning Member

Who claims property taxes when a Quit Claim Deed is involved?

My Dad is living in a home/property that was put into a Quit Claim Deed in my name. There is no debt as the home/property was paid off almost 20 years ago. He pays all his living expenses and the property taxes. Can he claim the entire amount or can he only claim half of it because the Quit Claim Deed is in my name?

7 Replies
ColeenD3
Employee Tax Expert

Who claims property taxes when a Quit Claim Deed is involved?

In order to claim the property taxes, you must be both liable for the debt and pay the debt. Neither of you can claim them. In the future, have your father gift you the money and then you pay them.

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JWillerMp
Returning Member

Who claims property taxes when a Quit Claim Deed is involved?

There is no dept. The property and home have been paid off for about 20 years. There is only his living expenses which he pays for all of it. He pays the property taxes. 

ColeenD3
Employee Tax Expert

Who claims property taxes when a Quit Claim Deed is involved?

The debt is to the taxing authority.

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JWillerMp
Returning Member

Who claims property taxes when a Quit Claim Deed is involved?

My dad pays the property taxes to the taxing authority. On his WI Form 1, Line 13b, 'Property Taxes Paid on home in 2020', can he enter the the entire amount that he paid?

ColeenD3
Employee Tax Expert

Who claims property taxes when a Quit Claim Deed is involved?

As I said, no. From Schedule A instructions.

 

Enter on line 5b the state and local taxes you paid on real estate you own. He doesn't own the property and you didn't pay the taxes.

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JWillerMp
Returning Member

Who claims property taxes when a Quit Claim Deed is involved?

Does it make a difference if in the QCD it states "Dad's name" shall remain responsible for real estate taxes, insurance and maintenance of the said real estate during his lifetime."?

ColeenD3
Employee Tax Expert

Who claims property taxes when a Quit Claim Deed is involved?

You need to see an attorney. The IRS is clear as to their instructions. If there is some legalese in the QCD, then that needs to be addressed elsewhere.

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