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Question

Recently bought a home,the loan is in my name but have a friend who live in the house and pays half of the mortgage and is on the title, is she able to deduct half of the interest/

Submitted: 782 days and 13 hours ago.

Category: Tax

Value: $15

Status: AWAITING CUSTOMER ACTION

Posted by Mark D 782 days and 13 hours ago.

Answer

XXXXXXXXX,
If your friend is on the title, there will no issue with her deducting half of the mortgage interest and property taxes. Is your friend also on the mortgage?
Regards,
Mark D

782 days and 13 hours ago.

Reply

no my roomate pays half of everything and is only on the title but not the loan.

Answer

She can still claim half of the mortgage interest. I would have her attach a statement to the return stating she is a 50% owner of property with you. She will need to give your name an SSN on the statement as well. This will help prevent any IRS document matching problems later on down the road.
Regards,
Mark D

Expert:	Mark D
Pos. Feedback:	99.6 %
Accepts:	919
Answered:	1/28/2008

Enrolled Agent

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

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Tax

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Question

Recently bought a home,the loan is in my name but have a friend who live in the house and pays half of the mortgage and is on the title, is she able to deduct half of the interest/

Answer

XXXXXXXXX,If your friend is on the title, there will no issue with her deducting half of the mortgage interest and property taxes. Is your friend also on the mortgage?Regards,Mark D

Reply

no my roomate pays half of everything and is only on the title but not the loan.

Answer

Related Tax Questions

XXXXXXXXX,
If your friend is on the title, there will no issue with her deducting half of the mortgage interest and property taxes. Is your friend also on the mortgage?
Regards,
Mark D