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I have a co-signer, but does not live in the home with me.

We filed separate taxes but I am curious do both parties get equal rights to claim the interest? or is it only the personal living in the home? by hermes142 from Palm Springs, California. May 16th 2019 Reply


Fred Glick (FredGlick)
#18 ranked lender in Pennsylvania - 18 contributions

The IRS only cares that only 100% of the interest and taxes are deducted in full no matter who.

May 16th 2019
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Dave Skow (daveskow)
#1 ranked lender in Washington - 261 contributions

I believe the write off can only be used by one person and not split ..check with a CPA / Accountant or the IRS

May 16th 2019
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

I believe I have seen those deductions split before, definitely good to check with a tax specialist - it may be different under state law. Pay attention also to local rules regarding how property taxes are assessed.

May 17th 2019
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

It's best to contact an accountant or CPA for this question, but in general, Yes, you both have equal rights, but it's not a matter of you both fighting over who gets the deduction.. IRS rules are pretty clear, the person who actually pay's the interest is the one who get's to write it off,,, Deductions cannot be given away to someone else.. If you split the mortgage payments with the co-signer, then they would be entitled to write off 50% and you could write off 50%.. If they wrote off 100%, but never made a payment, and they get audited.. then they would lose that deduction since they never paid it.. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

May 17th 2019
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Mel Baker (makinghomeloanssimple@gmail.com)
#1339 ranked lender in California - 21 contributions

So..federal statute regarding the interest deduction is exclusive to the primary mortgagor. The person in this case who will be living in the property. Now, if the cosigner will remain on title he/she/they may have the opportunity to take deductions as an investor. Be sure to consult a CPA.Feel free to give me a call regarding the options available to you. NO OBLIGATION. If decide to work together I will offer you the absolutely lowest cost scenario possible.Mel S.BakerArcstone Financial(310) 985-9778 NMLS 80541

May 24th 2019
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