Do I put my husband name on our taxes when it asks who is on the mortgage?

Question

I was working on my taxes on taxact.com. I came to the part where I can claim my taxes an interest on our home. My name is on the paper that came in the mail. When I took out the loan only my name was on the loan, but he is listed on the title as well. Plus, we were having finance problems due to a sick child a few years back. We went into preforclosure. Well when we got those forclosure papers, they had "both" of our names on it. The reason I'm asking is that we are filing an injured spouse form as well with our taxes, and whatever credits my husband can get I want him to get so we can get more of our refund back. But I want to make sure it's all done right. So when it asks who can claim the mortgage interest me taxes, who can I put? Any personal experience or website links would be really helpful. Please, no comments calling me a deadbeat. My child got sick which we couldn't help. I am now in a repayment plan for my student loan, and we are up to date on our bills. But due to the fact that the student loans where already offset, they may still take some of our taxes this year.

Update:

I called the bank today, and they said that my husband is listed as co-buyer.

Update 2:

I having been looking into this and found out that we can just take a standard deduction, and we will come out better than itemizing. So this is a load off my back. And to the person that suggested we get help with my sick daughter. Thanks for the advice. But unfortunately we fall a little above the range to get help. The government usually don't like to help someone who is trying to help themselves. :( It's sad, but true.

Brent G · Accepted Answer

I have worked for a big bank for the past 8 years and we would always report the mortgage interest under whomever was listed as the primary on the loan, and I hear that this is common for most other banks.
If you are the only one listed on the loan or the primary borrower on the loan and the mortgage was held with my bank, only you would be able to claim the mortgage interest if you filed separately.

Just verify with your bank if that is in fact true for them as well.

Slickterp · Answer

He isn't liable for the interest, only you can claim it, if yours is the only name on the loan.

Both of you were on the foreclosure papers because bank would foreclose on all owners of record, not just the loan holder.

glenn · Answer

Often the AARP has a local group of retired accountants that will look over all your data and help you figure this out.  If you can not afford to pay anyone- that is what I would suggest to do.  Because this is complicated.  Their help is for low income or moderate income people, not just retired or old people.

Jin Hayashi · Answer

Your husband would not be entitled to ANY credit if he is not on the loan

If he SIGNED the loan documents as a secondary borrower he is entitled to it

Even if he is on the title he is not allowed

It is FRAUD if you do report it for him

If your child is sick there are other options to help they have assisted emergency medical welfare or other non profit organizations

If your husband is not on the loan it is a great time to refinance and work out a reasonable payment plan with them

YOU WILL NOT BE ABLE TO FILE TAX DEDUCTIONS FOR THE AMOUNTS AFTER FORECLOSURE PROCESS

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Do I put my husband name on our taxes when it asks who is on the mortgage?

4 Answers