- quote -


If you can prove ownership, that's all that is necessary.
If you had a private agreement, that too would have been
recorded and you would be able to substantiate that you were
paying mortgage interest to the person holding the mortgage.
Of course, the mortgage holder would also have been
reporting the interest income as well. To the extent the
names of those on the deed are legally responsible, and
there is a degree of ownership, a valid claim might be made
based on percentages.

"Jack" - John H. Fisher - TaxService[at]aol.com
Philadelphia, Pa - Atlantic City, NJ - West Wildwood, NJ
My Newsgroups & Boards at: http://members.aol.com/TaxService/index.html

Where Ignorance is bliss, 'tis folly to be wise!=

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I looked everywhere and cannot find the answer to this
question...

With TD 9030 Reduced Maximum Exclusion of Gain From Sale or
Exchange of Principal Residence how does the IRS define
ownership ie is an owner defined as the only person listed
on the title that is publicly recorded?

How about if I had a private mortgage agreement with the
seller that was never officially recorded etc?

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