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JB Umphrey
JB Umphrey, Attorney
Category: Legal
Satisfied Customers: 20233
Experience:  Explains legal matters based on 14+ years experience.
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can I take a tax credit for my morgage and property taxes if

Customer Question

can I take a tax credit for my morgage and property taxes if I did not pay them from my own earnings
Submitted: 5 years ago.
Category: Legal
Expert:  JB Umphrey replied 5 years ago.
Thank you for using JustAnswer!

Please clarify: where did the money come from?

How much money is is involved?
Customer: replied 5 years ago.
the money came from my brother in law who was a co-owner of the home but did not take any of it for his own deductions .The amoubt was app 150k per year for 6 years
Expert:  JB Umphrey replied 5 years ago.
Are you currently being audited for past tax returns?
Customer: replied 5 years ago.
no
Expert:  JB Umphrey replied 5 years ago.
Did you pay anything in your mortgage and property taxes?
Customer: replied 5 years ago.
No
Expert:  JB Umphrey replied 5 years ago.
Did your brother-in-law pay gift taxes for $135K per year?
Customer: replied 5 years ago.
No
Customer: replied 5 years ago.
no he did not
Expert:  JB Umphrey replied 5 years ago.
Then the answer is "no" you are not eligible to take the credit because you did not pay the monies, the monies did not come from you, you did not earn them and they were not given to you as a gift.

There is simply no legal basis for you to claim the tax credit.

I wish very much that I could offer you an answer that was more favorable to your circumstances, but the law seems to be pretty clear. Had I been able to provide an Answer which might have given you a successful legal outcome, it would have been my pleasure to do so.

I hope you understand.

If you have a follow-up question, please reply and ask it.

If you are satisfied that your question has been answered, kindly select the ACCEPT button to close this thread and so that I receive credit for assisting you today.