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Can somebody other then the primary holder on the loan take the mortgage Deduction?

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parsamkk

Junior Member
What is the name of your state?NY

Hello,
I hope you can help me with this matter.
Can somebody other then the primary holder on the loan take the mortgage Deduction? What forms and how to file it.
To make the long story short. I want to add my son to the home loan for tax purposes. (for next year ).
I spoke with my bank and they said that they will issue 1099 only to the primary borrower. How should I approach this matter?
Thanks for your help.
 


Snipes5

Senior Member
Does your son both live in the home and pay the mortgage?

If that is the case, you can write something up to the effect that you are allowing him to take the mortgage deduction, as he is responsible for payment, have it notarized, and include a copy with the return.

If you are filing electronically, you can send it in as an attachment with form 8453. This issue has been hashed out several times in this forum, you may want to do a search.

Snipes
 

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