What is the name of your state?What is the name of your state? California
If parents are making the Mortgage Payments and paying the Taxes on a house they are living in, how can they take the tax deductions.
Given the fact: Loan and title in son's name and son not taking deductions.
How can a written agreement between son and parents be drawn up or is just copies of checks proof enough for IRS. I noticed someone suggested issuing 1098 and 1096 forms. I would be interested to know, I read TC memo 1997-551 in favor of taxpayer, are there other newer cases in favor.
If parents are making the Mortgage Payments and paying the Taxes on a house they are living in, how can they take the tax deductions.
Given the fact: Loan and title in son's name and son not taking deductions.
How can a written agreement between son and parents be drawn up or is just copies of checks proof enough for IRS. I noticed someone suggested issuing 1098 and 1096 forms. I would be interested to know, I read TC memo 1997-551 in favor of taxpayer, are there other newer cases in favor.