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04-03-2008, 07:07 AM #1
Renter
- Join Date
- Mar 2008
- Location
- Lancaster, PA
- Posts
- 3
Federal Income Tax question.
Our house was in our daughters name until last week. Over the past year, while in her name, she did not live here and did not pay of the interest, principal, taxes, or home owners insurance. However she claimed all of the interest on her federal income tax return. Did she do something illegal?
Thanks for help.
iamdeemackDenise A. Mack
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04-04-2008, 11:40 AM #2
Renter
- Join Date
- Apr 2008
- Posts
- 5
No, She did not do anything illegal due to the fact that she claimed the interest on her taxes while the house was under her name. That is perfectly acceptable.
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04-04-2008, 01:34 PM #3
Fixer Upper
- Join Date
- Jun 2006
- Posts
- 26
Who was paying her mortgage, insurance and property taxes?
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04-13-2008, 01:50 PM #4
Condominium
- Join Date
- Jan 2008
- Location
- NW suburbs of Chicago
- Posts
- 107
Dee,
The interest allowed for itemized deductions are for the primary and secondary places of residence. There is not enough information here to know.http://tantoine.wordpress.com/ I do not hold myself out to be an attorney. Consult with a local attorney for proper advice. IRS Circular 230: This response is, written for educational purposes only. It does not establish a client relationship. This communication is not intended to be used, and cannot be used, for the purpose of (i) avoiding tax-related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to any party any matters addressed herein.
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