Business & Finance

We bought a house but my husband is the only one on the mortgage. He is a diplomat and is not required to file a US Income tax. Since I am the only one filing, can I claim the mortgage interest and report the property tax even if I am not on the loan? Thanks in advance.

You're not on the loan, so you aren't legally responsible for the payment, so no you can't claim the interest. If you're on the deed you can claim the property tax.

It doesn't matter if you're on the loan or not. If both of you are paying interest and taxes, either one (or both if MFJ) can legally use the deduction without problem.

No,

In order to take the mortgage interest deduction on a home loan, you must be legally liable for the debt. If you're name is not on the mortgage, then you are not legally liable for the debt and you cannot take the deduction.

If its worth it to you for the tax benefit, you might consider refinancing or adding your name to the mortgage.

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You must be legally responsible for the debt to claim it. If you are filing married separate then you are paying the highest tax bracket and many possible deductions are disallowed.

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Regards.
Kit....

No, not if you are filing separately. Only the owners of record can claim the property taxes. Only the party on the mortgage can claim the interest deduction. Why aren't you filing a joint return?

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