Agent

How can fiancee qualify for real estate tax deductions?

Partner pays 1/2 of mortgage, seeks name on title

The real estate event of the summer
Connect with other top producing agents at Connect SF, Aug 7-11, 2017

DEAR BOB: I recently purchased a condo with only myself on title. How can I get my fiancee on the title to enable her to take advantage of the tax deductions? If she pays half the mortgage, I feel this is only fair. Will check stubs for half the payment suffice? Or will I have to claim the full amount and reimburse her at tax time? – Christian L. DEAR CHRISTIAN: Let me get the facts straight. You bought a condo in your name alone. But your fiancee is making half the mortgage payments. Purchase Bob Bruss reports online. Are you, and/or she, both living in the condo? How far away is the wedding date? The answers determine your tax status for deductions. If this is a rental condo and neither of you live in it, only you can deduct the investment mortgage interest, property taxes, condo fees, insurance, etc. because only your name is on the title. Your fiancee would be a fool to pay half the expenses in such a situation. Presuming you have a super-smart fiancee, I presume you a...