Comments on: Can my spouse claim mortgage interest paid on his taxes if its under my name? http://www.reddeerrealestatelink.com/can-my-spouse-claim-mortgage-interest-paid-on-his-taxes-if-its-under-my-name/ Tue, 05 Apr 2011 20:33:22 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Pengy http://www.reddeerrealestatelink.com/can-my-spouse-claim-mortgage-interest-paid-on-his-taxes-if-its-under-my-name/comment-page-1/#comment-2849 Pengy Tue, 27 Apr 2010 15:57:10 +0000 http://www.reddeerrealestatelink.com/can-my-spouse-claim-mortgage-interest-paid-on-his-taxes-if-its-under-my-name/#comment-2849 No the mortgage is in your name and under your SSN and that is how it is reported. File jointly you will make out better No the finance is in your name and under your SSN and that is how it is reported. File jointly you will make out better

]]> By: bud68 http://www.reddeerrealestatelink.com/can-my-spouse-claim-mortgage-interest-paid-on-his-taxes-if-its-under-my-name/comment-page-1/#comment-2848 bud68 Tue, 27 Apr 2010 14:58:07 +0000 http://www.reddeerrealestatelink.com/can-my-spouse-claim-mortgage-interest-paid-on-his-taxes-if-its-under-my-name/#comment-2848 Only the party legally required to pay the loan (the borrower or borrowers) can claim the interest deduction. Why would you not file jointly? Only the party legally required to pay the loan (the borrower or borrowers) can claim the interest deduction. Why would you not file jointly?

]]> By: hrblockrichardk http://www.reddeerrealestatelink.com/can-my-spouse-claim-mortgage-interest-paid-on-his-taxes-if-its-under-my-name/comment-page-1/#comment-2847 hrblockrichardk Tue, 27 Apr 2010 14:03:15 +0000 http://www.reddeerrealestatelink.com/can-my-spouse-claim-mortgage-interest-paid-on-his-taxes-if-its-under-my-name/#comment-2847 If he is co-owner of the home and legally liable on the mortgage, he can deduct the mortgage interest and property tax actually paid by him or paid out of his earnings. If you are in a community property state, the amount he can deduct is usually 50% of the mortgage and property taxes. Richard K Master Tax Advisor HR Block This advice is based upon the law in effect at the time it was written as it applies to the facts provided by you. See my profile for more information. If he is co-owner of the home and legally liable on the finance, he can deduct the finance interest and property tax really paid by him or paid out of his earnings. If you are in a community property state, the amount he can deduct is usually 50% of the finance and property taxes.

Richard K
Master Tax Advisor
HR Block

This advice is based upon the law in effect at the time it was written as it applies to the facts provided by you. See my profile for more information.

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