Discussion:Mort. Interest deduction
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Discussion Forum Index --> Tax Questions --> Mort. Interest deduction
MichaelK81 (talk|edits) said: | 16 May 2007 |
| I have a client who, for credit reasons, has their grandmother purchase a house for my client to live in. Everything is in the granmothers name, however, my client pays the property taxes, mortgage payments and everything as though he owns it. He was told by his former accountant that he could deduct the interest and property taxes on sch. A as if he owned it, as long as his grandmother could not.
I believe this to be incorrect, and that if he is not on title they are not his deductions to take. Can anyone guide me down the right path? | |
| 16 May 2007 | |
| [Equitable or Beneficial Owner]
this is a great contribution from Solomon TexCPA 16:02, 16 May 2007 (CDT) | |
MichaelK81 (talk|edits) said: | 16 May 2007 |
| Thank you, that was a perfect link. | |
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