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Richard, Tax Attorney
Category: Tax
Satisfied Customers: 55467
Experience:  29 years of experience as a tax, real estate, and business attorney.
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My father passed away a few years ago. I have been paying

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My father passed away a few years ago. I have been paying the mortgage on the residence and a piece of property that my father owned. The situation gets more interesting that my parents were divorced and my brother and I were named in my father's will as owners of any property belonging to him. The one issue is that the will is old and originally had my mother named, this all happened before the divorce and was never changed. My brother's name and mine is not on the deeds for the residence and property or either of the mortgages. Since we are named in the will does that serve as enough to write of the interest off on both mortgages rather than being listed on the deed for the residence and property? I have been paying this for a few years now. If I can amend my taxes, how many years can I go back and amend them?
Submitted: 5 years ago.
Category: Tax
Expert:  Richard replied 5 years ago.

Good evening. Your father's will is valid and because your parents were divorced, the will is construed as if your mother predeceased your father. Thus everything would go to you and your brother. As such, even though the title has not officially been transferred....which I suggest you do to clear the title up sooner rather than are treated as the owner as of the date of death. As a result, you can deduct the taxes and interest for the property.



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Customer: replied 5 years ago.
Can I amend my returns as far back as 2008 until present? The tax people I have been dealing with said that they only way I can write it off is to show I am on the mortgage and deed to prove in the event of IRS audit. Can I simply tell them that the will acts in place of deed and I do not have to worry about being named on the mortgage since I am the equitable owner? Do you think going through this process would initiate an IRS audit?
Expert:  Richard replied 5 years ago.
The will does act in place of a deed. I don't think it will initiate an audit; and even if it did, you would prevail. Yes, you can go back to have 3 years from the filing date to amend for a refund.
Customer: replied 5 years ago.
Is there anyone that practices in NY that you would recommend to handle this?
Expert:  Richard replied 5 years ago.
Unfortunately, we are not allowed under our terms of service with JA to make any specific recommendations. But if you contact any CPA in your area, they can file these for you....this won't be a complicated process for them.
Customer: replied 5 years ago.
Thank you
Expert:  Richard replied 5 years ago.

My take care!



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