My husband’s name is on our rental property title (mine is not), yet the bank wants to put both of our names on the mortgage. Does this mean that he can still claim 100% of the rental deductions and interest on the property, even though my name is on the mortgage too?
Hi @Kbaker79,
Correct, your husband can claim his 100% deductions in relation to the property if he is the legal owner. However, if it's 100% owned in his name, he's also the only one that can declare the rental income and claim expenses assosciated to the rental property. The amount you're paying wouldn't be deductible by you.
Hi @Kbaker79,
Correct, your husband can claim his 100% deductions in relation to the property if he is the legal owner. However, if it's 100% owned in his name, he's also the only one that can declare the rental income and claim expenses assosciated to the rental property. The amount you're paying wouldn't be deductible by you.
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