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Who Can Claim Home Mortgage Interest Deduction. – Cash. – So, it doesn’t matter who receives Form 1098-if you own a qualified home with someone else and you paid mortgage interest (and itemize deductions on Schedule A), you can claim your share of the money-saving mortgage interest tax deduction.
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Can I Claim Interest Paid on My Mortgage if My House Is Not. – You have to be personally liable for the loan before you can deduct the interest, and you can’t deduct interest that someone else who was not liable for the loan paid on your behalf. For example, if your parents made your mortgage payment but had no obligation to do so, the IRS considers that money to be a gift.
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