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Itemized Deductions Schedule-A


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Old 01-14-2013, 01:47 PM
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Mortgage interest on inherited property

My father passed away in 2008, leaving his house (and mortgage) to me. I moved into the house shortly after his death and started making the monthly mortgage payments. It was not until late 2011 that the probate process was finalized, showing me as the sole distributee. The mortgage company was then able to transfer the existing mortgage into my name. I have made every monthly mortgage payment since his death, but did not claim the mortgage interest on my tax returns since the 1098s were still coming in my father's name. Can I file an adjusted tax return for for myself for the years 2009-2011 and claim the mortgage interest paid?



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Old 01-15-2013, 05:30 AM
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“I have made every monthly mortgage payment since his death, but did not claim the mortgage interest on my tax returns since the 1098s were still coming in my father's name. Can I file an adjusted tax return for for myself for the years 2009-2011 and claim the mortgage interest paid?”----->Definitely you must file your 1040Xs to claim mort expenses on your return, however, you must itemize dedcctuon on Sch A of 1040 to deduct it on your returns; if you share the mortgage interest deduction with another person, but you are not named on Form 1098 (which is the form the lender sends you showing the mortgage interest that was paid during the year), you’ll want to create and attach a short and simple statement to your Sch A that says how much of the interest you each paid and gives the name and social security number of the person who received the 1098. I guess you neecd to contact the lender.



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