Subj To: Who gets the interest tax deduction? - Posted by Dan C (MI)

Real Estate Investing
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Posted by Mike Stott on July 03, 2002 at 08:53:36:

Dan,

Dave is correct. Ideally, you would want to send a change of address (signed by seller) to the lender when you take subject to. That way the Form 1098 (“Interest paid”) comes to you. If not and both of you claim the interest, you will at least have the cancelled checks to prove to the IRS you paid it.

Mike Stott

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Subj To: Who gets the interest tax deduction? - Posted by Dan C (MI)

Posted by Dan C (MI) on July 02, 2002 at 09:34:11:

In a “subject to” deal, who gets the interest deduction? The seller still holds the mortgage but the buyer (me) is paying it. Can anyone clear this up for me?

Dan