Posted on: 01st Apr, 2008 04:46 am
My daughter has had our house in her name. She hasn't lived here for the last year. All mortgage payments, taxes, and insurance has been paid by my husband and I out or our checking account. However, she claimed all interest on her federal income tax return. I am afraid this may be illegal. Is it? Thank you so much in advance for any replies.
Hi Iamceemack,
Welcome to the forums.
I don't think it's illegal because your daughter is on the property title as well as on the loan. And that you are making payments is a different issue because I guess the payments are reported to the lender/credit bureau in her name isn't it?
Take care
Welcome to the forums.
I don't think it's illegal because your daughter is on the property title as well as on the loan. And that you are making payments is a different issue because I guess the payments are reported to the lender/credit bureau in her name isn't it?
Take care
Hey,
Good to have you here!
Well it all sounds legal to me(Y)
Riko
Good to have you here!
Well it all sounds legal to me(Y)
Riko
Welcome Iamceemack,
I agree with the above posters that it is not illegal as you are paying the mortgage payments on your daughter's name and she is also on the deed of the property. So she is the one who can claim the tax deduction.
I agree with the above posters that it is not illegal as you are paying the mortgage payments on your daughter's name and she is also on the deed of the property. So she is the one who can claim the tax deduction.