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Author: jcrossen Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121571  
Subject: Odd mortgage interest question Date: 2/22/2000 3:24 PM
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Here is my situation. My mother passed away in 1998. he house was in probabate for most of 1999, as the sole heir it was obvious the house would go to me. During most of 1999, before the house was sold in November, I paid the mortgage payments on that house. My main question is: Can I deduct the interest on my 1999 tax return?
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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 29719 of 121571
Subject: Re: Odd mortgage interest question Date: 2/23/2000 11:12 AM
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<<Here is my situation. My mother passed away in 1998.>>

Sorry to hear that. My condolonces.

<< he house was in probabate for most of 1999, as the sole heir it was obvious the house would go to me. During most of 1999, before the house was sold in November, I paid the mortgage payments on that house. My main question is: Can I deduct the interest on my 1999 tax return?>>

Likely yes...but not as "home mortgage". Your interest deduction will most likely be that of "investment interest expense".

You can read more about the investment interest expense deduction in the Taxes FAQ area.

A more proper way to handle this issue would have been through a trust return that administered mom's assets during the period of probate. Then any and all of the appropriate income and expense deductions would have been "passed through" to you to be included in your personal income tax return. But it looks like it didn't happen that way.

TMF Taxes
Roy

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