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quit claims and taxes

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Annamarria

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Post Posted: Wed Mar 09, 2011 3:39 pm    Post subject: quit claims and taxes
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In my divorce My ex quit claimed the house to me & I quit claimed a rental property to him. Now he wants to claim mortgage interest and texes for the three months he lived in the house before the divorce. I said no and that if he did that I would take the portion of the rental deductions for the months I owned that. Is he entitled to claim the deduction on property he quit claimed?
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Post Posted: Wed Mar 09, 2011 8:19 pm    Post subject:
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You don't have to worry about what he claims, as long as you don't claim anything more than what you personally have paid. So if he wants to claim he paid $1,000,000 in mortgage interest a year then that'll be his problem with the IRS eventually.
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Post Posted: Wed Mar 09, 2011 9:04 pm    Post subject:
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Welcome Annamarria,

You should contact a tax adviser and he will guide you better in this matter. He will let you know whether or not your ex will be able to claim the deductions.

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