Can real estate inheritor claim mortgage interest tax deduction?
By Bob Bruss DEAR BOB: Almost 10 years ago, I married my husband and moved into his house. But he died unexpectedly eight months ago. I inherited his house and have sufficient income to pay the mortgage and property taxes. Since my name is not on the mortgage, can I deduct the mortgage interest on my tax returns? – Nola S. DEAR NOLA: Yes. Because you hold title to the house, you are legally obligated to pay its mortgage. If you stop paying, you will lose the house by foreclosure. Purchase Bob Bruss reports online. Therefore, you are entitled to claim itemized interest deductions for the home mortgage interest (and the property taxes you pay). For full details, please consult your tax adviser. HOW CAN HUSBAND GET WIFE TO DEED TITLE TO HIM? DEAR BOB: At the time my wife and I wanted to buy a house (so we could move out of a crowded apartment because we were expecting twins), my credit was not very good. But she was a nurse earning superb income with great credit. The mortgage broker advi
