Hello!
My father passed away last year and as I do my taxes this year I was wondering if I could deduct the mortgage and property taxes. The mortgage is still in my father's name, I make all the payments and my name is on the deed. I rent out my father's condo, so this is not my primary residence. Can I still deduct the mortgage interest and property taxes that I paid on the condo all of 2023?
If so, how do I file it on my turbotax account?
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Not all of 2023 since your dad is entitled to his share. Your dad's final return would take the portion that belongs to him - unless it was not his house. If you are the only owner of the house you qualify to claim the remainder of the deduction. Since you are renting the house, you would enter it on Sch E to declare the income and expenses. See Pub 527 for the rental. Be sure to claim the depreciation as that must be accounted for when sold.
Publication 530, Tax Information for Homeowners page 6 states:
Deductible Mortgage Interest
To be deductible, the interest you pay must be on a loan secured by your main home or a second home, regardless of how the loan is labeled. The loan can be a first or second mortgage, a home improvement loan, a home equity loan, or a refinanced mortgage
I am very sorry for your loss. The IRS has a quick How Do I File a Deceased Person interactive assistant. It is very detailed and may give you additional information.
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