Making Mortgage Payments.

Let's say I closed a sub-to deal early this year and have been making the mortgage payments on time. At tax time, do I get a write-off for all of the interest payed on the mortgage? Since technically the mortgage is not in my/my company's name, I'm not sure how this works. Who would get the deduction?

Comments(1)

  • MrsMeltzer16th October, 2003

    My tax accountant says "whomever pays the interest gets the write-off".

    However, I would check with your attorney or tax accountant to verify.

    Hope This Helps,

    Mrs. Meltzer

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