The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Home Mortgage Interest Deduction||Date: 3/11/1999 10:41 PM|
|Author: TMFTaxes||Number: 11997 of 121114|
[[ At the time I was divorced in 1994, I co-owned a house with my ex-wife (we
are both listed as owners on the deed and mortgage). Per our divorce decree,
she was awarded exclusive use of the house and is responsible for paying the
monthly mortgage payments. I, however, was specifically awarded the right to
claim the mortgage interest as an itemized deduction on my tax return each year
beginning in 1994. Does the IRS recognize this as a legitimate deduction?]]
I would want to read the entire document, but it's a little goofy. If SHE is making the payments, but YOU are taking the deduction, things are a bit out of whack. Now, then, if you are paying alimony to your ex spouse, that changes everything.
I would suggest that you take the entire document to a qualified tax pro for a complete tax review and an opinion.
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