Can I Deduct Interest Paid If..............>

I make all the mortgage payments on
the house I live in with my girlfriend?

We were living together when it was purchased in her name. I gave her
money to put down on it & have made all the mortgage payments the entire ~7 years we have lived in it.

I currently have no deductions, & take a
CONSIDERABLE hit with my
taxes . <IMG SRC="images/forum/smilies/icon_cry.gif">

I live in Texas, & we are NOT common law, as we dont meet the necessary requirements.

Thanks in advance for any & all help, it sure would be nice to keep some of the
$15-20,000 I pay in.

- Cam

EDIT: She does not claim the interest herself.
[ Edited by CAM on Date 02/10/2004 ]

Comments(2)

  • DaveT10th February, 2004

    You can deduct home mortgage interest if your name is on the loan (even though your girlfriend is on title as a sole owner).

    Otherwise, just consider the mortgage payments you have been making all along as a tax free gift to your girlfriend.

    Check you state's community property rules to see if you have any rights anyway despite my opinion.

  • ccmcfarland10th February, 2004

    Thanks Dave,

    But no, my name is not on the note. After
    other digging, I fear the answe to my
    question is "NO".
    I only started questioning it as an aquaintence of mine mentioned he has been taking the write-off in a similar situation as his tax preparer told him it was o.k. to do so.
    Just got my hopes up is all....

    - Cam

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