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March 28, 2025
Question

Mortgage interest

  • March 28, 2025
  • 1 reply
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I am retired on Social Security and I no longer file taxes .  I recently put my son’s name along with mine on the deed but only I am on the loan, I make all the payments. Can my son write the interest off on his tax returns, It seems a waste to not be able to use those thousands of dollars I pay every year in interest! 

    1 reply

    March 28, 2025

    The person who actually made the payments can use the homeownership deductions on their tax return.  Your son made no payments.

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**