by Jim Carson
Question by Tim Welch: My ex wife got the house, but the mortgage is in my name and she refuses to refinance. Can I deduct interest?
I checked the mortgage lenders 1099 IRS form, and I am the sole tax payer on the mortgage. Can I deduct the interest?
Answer by Ryan M
Only if you PAID the interest. You need to see a lawyer about your situation….your ex can REALLY screw up your finances for a LONG TIME!!!
Add your own answer in the comments!
you need to deduct your lawyer for getting you into this mess.,…what a fool he or she is…this should not have happened under any circumstances….
You need to hire a lawyer and force her to refinance everything. My husbands ex is doing the same thing.
you need to contact a RE attorney or Family law attorney. on this.
or a CPA
You got a lot of divorce advice above that you didn’t ask for.
The answer to your question is yes, if you are the borrower. Only the party required to pay the loan (borrower/s of record) can claim a deduction for the interest, regardless of who actually pays it. Only the party required to pay property taxes (owner/s of record) can claim a deduction for taxes, regardless of who actually pays them.
Yes you can and I’d put the house on the market, if she wants to keep it that will force her to refinance! Otherwise you run the risk of her ruining your credit! Call your attorney and see what he/she says.
I have the same condition, lawyer charge a lots. Try go to small court .