Posted on: 22nd Jan, 2012 04:45 pm
My husband has POA along with this brother for their mother. They are also on the Deed to her home as Tenants in Common. Does he need a paper trail to prove Real Estate Taxes are paid by him and brother or can their mother continue to pay Real Estate Taxes and deduct them on her Income Taxes? Profiting from this deduction? Or should we be paying and profiting from the deduction?
signed: unsure
signed: unsure
Welcome Guest,
As far as I can understand, their mother can continue to pay the real estate taxes and deduct them on her income taxes.
As far as I can understand, their mother can continue to pay the real estate taxes and deduct them on her income taxes.
Hi Guest!
Welcome to forums!
If you want to claim the taxes on your tax returns, then you need to pay it and keep paper trail for claiming it on your taxes.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you want to claim the taxes on your tax returns, then you need to pay it and keep paper trail for claiming it on your taxes.
Feel free to ask if you've further queries.
Sussane
Fantastic Answers!
Thanks for your quick and thorough answers. I think we'll let her pay until she can't, then we'll step in.
Thanks for your quick and thorough answers. I think we'll let her pay until she can't, then we'll step in.
You're welcome!! :)