Have a Tax Question? Ask a Tax Expert
Whomever is responsible for repayment of the loan on the property has the right to claim the property taxes. If your parents OWN or are purchasing the property, they have the right to claim it. If they pay a set amount as in a rental agreement, they cannot claim it.
Retirement complexes are typically like rental dwellings and are handled as such.
Let me know if you still have questions.
That is correct. If they are not legally responsible for repayment of the mortage for the home they live in, they cannot deduct the mortgage interest or property taxes.