Posted by dutch on September 27, 2006 at 18:31:42:
It’s who’s on title that gets the deduction, not who is on the note.
Dutch
okhomesavers
Can I take the interest deduction in a Sub2? - Posted by Tom (MN)
Posted by Tom (MN) on September 27, 2006 at 17:53:37:
I’m making the payments (and paying the interest) on a Seller’s Sub To mortgage. Seems like my LLC in which I took title should get the deduction. But the mortgage is still under the seller’s SS#. Does the IRS care about that? Should I just deduct the whole payment like I would for a lease payment in a sandwich lease?