Can anyone help me regarding home loan interest and tax write off?
My ex-wife got our home in our divorce settlement. The home loan is in my name only. Can she write off the interest of the loan on her taxes? Or can I?
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Tags: divorce settlement, home loan
April 3rd, 2010 at 1:27 pm
what I believe is that you can write off your interest of loan on your taxes but she cant… but make it clear from anywhere else as well….
April 3rd, 2010 at 1:27 pm
If she pays the mortgage, she may deduct the interest.
It would be best for her to assume the mortgage if she can qualify to do so. They may release you from it, which would free up your credit for other purposes.