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I put my home in a simple Revocable Trust. My wife, son and
I put my home in a simple Revocable Trust. My wife, son and myself are all trustees and the beneficiaries. The home has a loan in only my and my wife's name. My son makes at least half the mortgage pa… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,586 satisfied customers
Property owned by irrevocable grantor trust. form 1098 comes
property owned by irrevocable grantor trust. form 1098 comes in the name of the mortgage holder. who claims the mortgage interest? … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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I purchased the house as Family Trust, and the beneficiary
I purchased the house as Family Trust, and the beneficiary of the trust live with me who paid the mortgage interest, can he deduct the interest from his 1040 Schedule A ? What the mortgage statement s… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,586 satisfied customers
My mom passed away. I am the executor of her trust. I've
My mom passed away. I am the executor of her trust. I've been making mortgage payments on her house but I am not on the loan. Can I deduct those payments on my taxes?… read more
Lane
Lane
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Doctoral Degree
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My husband and I are both named on the mortgage. He is now
My husband and I are both named on the mortgage. He is now deceased. Forms to be filed with the IRS regarding mortgage are still being sent in husband's name and with his social security number. Can I… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,799 satisfied customers
I purchased a home about 3 years ago use of my disabled
I purchased a home about 3 years ago for the use of my disabled daughter. It was titled in the name of my wife's and my trust and the mortgage was in the name of the daughter and the trust. I paid the… read more
PDtax
PDtax
Certified Public Accountant (CPA)
Master's Degree
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Can I deduct motgage interst & property tax payments on an
Can I deduct motgage interst & property tax payments on an inherited home? The deed is in my name with the county. However, the mortgage is still in my deceased mother's name. I can show payments made… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
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I receive payments on a mortgage I own covering a condo. The
I receive payments on a mortgage I own covering a condo. The payer is a trust. I see mortgage interest is reported on a 1098 for an individual taxpayer. What form do I use to report mortgage interest … read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,799 satisfied customers
How do I direct a question to you only? The question does
How do I direct a question to you only? The question does not fit in the window on your personal page on JA… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,586 satisfied customers
I currently live in one unit of a four-plex I own. I live in
I currently live in one unit of a four-plex I own. I live in California. To better protect my assets in the event of a future marriage, I want to put the property into an LLC that is owned by a trust.… read more
Megan C
Megan C
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I am the trustee and beneficiary of an irrevocable trust. I
I am the trustee and beneficiary of an irrevocable trust. I have the discretion to purchase real property. 2 questions: If I purchase a home in the name of the trust , and live in it as my primary res… read more
R. Klein, EA
R. Klein, EA
Tax Advisor
Master's Degree
3,104 satisfied customers
I have a house jointly own in CA worth 600K, Mortg. 400k for
I have a house jointly own in CA worth 600K, Mortg. 400k for 7yr. Is any way having son becomes a co-owner and taking over mortgage. How can I do it without affect f tax.… read more
Wallstreet Esq.
Wallstreet Esq.
Tax Attorney
Doctoral Degree
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I have a trust for my children. The only assets in the trust
I have a trust for my children. The only assets in the trust is a house the ex-wife lives in and kids occassionally live in. (kids are 18, 19, and 29). I pay the mortgage and the taxes. can I deduct t… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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A promissary note secured by real estate is the interest paid
A promissary note secured by real estate: is the interest paid on this note tax deductible?… read more
Merlo
Merlo
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Can I deduct interest paid on my parents second mortgage
I built a house, my parents took a second mortgage on their house which I made the payments on to build my new house. Can I deduct the interest on the loan. I also cash advanced a credit card to build… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
27,799 satisfied customers
I had a small mortgage on my house of 42000. I refinaced my
I had a small mortgage on my house of 42000. I refinaced my house and purchased a second house [can I call it an investment like with stock]with the money (cash, and this might have been a mistake as … read more
Marvin,EA
Marvin,EA
Enrolled Agent
Bachelor's Degree
1,663 satisfied customers
I am in a contract for a lease to own on the house I live in.
I am in a contract for a lease to own on the house I live in. How can I claim the interest and property taxes on my income taxes. If I can not how do I need to change the finance arrangments so that I… read more
Ed Johnson
Ed Johnson
Senior HR Consultant and Business Devlpm
Bachelor's Degree
6,994 satisfied customers
I have been paying mortgage and taxes on my parents ...
I have been paying mortgage and taxes on my parents house (where I am also a resident). My name is XXXXX XXXXX the title or on the loan but in the Living Trust document. My tax adviser seemed to be su… read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
2,885 satisfied customers
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PDtax

PDtax

Tax Professional

35 years tax experience, including four years at a Big 4 firm.

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Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

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