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 kthg03
Joined: 08 Oct 2008
Posts: 2
1.45 Dollars($)
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 Posted: Wed Oct 08, 2008 5:05 pm Post subject: Question on Quit Claim and filing taxes |
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| If you are not on the loan, but you have a quit claim deed giving you half ownership of the home, and you pay half the mortgage, can you claim half of the house on your taxes? |
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kpatrick
Joined: 29 Oct 2007
Posts: 156
Location: Atlanta, Georgia
40.89 Dollars($)
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| Posted: Wed Oct 08, 2008 7:58 pm Post subject: |
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Absolutely, just be sure the other person doesn't claim the full amount of the taxes, and knows to just claim half.
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kthg03
Joined: 08 Oct 2008
Posts: 2
1.45 Dollars($)
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| Posted: Thu Oct 09, 2008 7:17 am Post subject: |
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| Wonderful, thank you for your response. |
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jheard
Moderator
Joined: 12 Dec 2007
Posts: 599
Location: Houston, TX
98.69 Dollars($)
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| Posted: Thu Oct 09, 2008 7:27 am Post subject: |
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I believe you must be obligated to pay, that is, on the loan. Check with a CPA.
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Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation. |
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