Glenn wrote:

- quote -

Only those expenses (mortgage interest and/or taxes) that
she actually PAID.

- quote -

If she paid it all, she claims it all. If not, she only
claims the part that she (personally) paid.

- quote -

Three years, 2003, 2004, and 2005

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"Glenn" <glennlray[at]ev1.net> wrote
- quote -

She can only claim the taxes and interest ~she~ actually
paid in that year.

- quote -

Then she can claim the mortgage interest and property taxes
for that year - 100%.

- quote -

It depends on how much of the house payments she made in
each year.

- quote -

You can amend 2005, 2004 and 2003. Any years earlier than
that are lost.

--
Paul Thomas, CPA
paulthomascpapc[at]bellsouth.net

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

An adult child is co-owner of a home with her parents. The
daughter is on the deed and tax appraisal records. She is
married and files jointly. The parents do not earn enough
to itemize and have not claimed the deductions for taxes &
interest for the past six years.

She has never claimed any deduction for the interest or
taxes on the co-owned home.

1) Can she claim the deduction (presumably, yes)?

2) If so, how much? Is it one-third of the total
taxes/interest -or- is it proportional to the amount she
paid each year? In 2005, she paid ALL the notes.

3) If so, how far back can she claim these deductions and
file amended returns?

Returns for 2005 were already filed and refund issued to the
daughter and husband.

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >