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clients and her mothers name is on the 1098 form. her mother name is first. her mothers ssn is on the form. can my client use the interest on her taxes. client pays mortgage?
HELP therrell123
Have her ask the mortgage company to issue the 1098 in her name and SSN. Yes, as long as she has documents in support of the payments and her being on the mortgage you can deduct it. Be sure to report it on Mom's taxes and then back it out with an explanation that it was deducted by daughter's SSN. You should submit a Statement of Explanation on daughter's return, as well.
Believe nothing you have not personally researched and verified.
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