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I am widow,do not file income tax because income is low and…

I am widow,do not...

I am widow,do not file income tax because income is low and no taxes withheld. I do own a home which my adult daughter shares with me. She pays all house expenses inlue of rent, these equal half of mortgage amount. She an her brother are named on my warranty deed for the house. Can she claim the interest paid on the house each year on her income tax return

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1/2/2018
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 4,759
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Yes. Your daughter can claim the mortgage interest on her tax return.

Per the IRS,

You can deduct home mortgage interest if all the following conditions are met.

  • You file Form 1040 and itemize deductions on Schedule A (Form 1040).

  • The mortgage is a secured debt on a qualified home in which you have an ownership interest.

My goal is to provide you with excellent service. Please take a moment to rate my answer with a 5-star rating to let me know that I have achieved my goal.

Thank you and best regards,

Barb

    Barbara
    Barbara, Enrolled Agent
    Category: Tax
    Satisfied Customers: 4,759
    Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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    Customer reply replied 1 month ago
    Barbara. Thank you so much. Can I do amendments for the interest for the prior 3 taxes years and would it be worth it the interest is always over $6000.
    Phone call session started

    It was a pleasure speaking with you.

    As I mentioned, your daughter can itemize the mortgage interest and real estate taxes on her tax return because she has an ownership interest in the property.

    Please do not hesitate to let me know if I can assist you in the future.

    Thank you!

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    Barbara
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