Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Filing tax return on house question....?
I want to know of I can claim the taxes on my house, my name is on the title of the house, but the loan in is my fiance and dad's name... can I claim the tax return on it with my name being only on the title or does the loan affect that?
4 Answers
- StephenWeinsteinLv 71 decade agoFavorite Answer
You can claim the taxes, and only the taxes.
The taxes can be claimed even if there is no loan.
You cannot claim the mortgage (loan) interest. Mortgage interest can be claimed only by someone who is on the mortgage (loan).
- JudyLv 71 decade ago
Being on the title makes you liable for the real estate taxes, so you can claim those if you paid them. Since you aren't on the mortgage, you can't claim the mortgage interest.
- chatsplasLv 71 decade ago
You can take a deduction for the real estate taxes YOU paid
You cannot take an interest deduction because you are not obligated to pay loan
Source(s): tax pro - Anonymous1 decade ago
If you paid the taxes, you can deduct them.
If you are the only name on the title, then no one can deduct the mortgage interest.
