• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

need CPA help

S

shazbot

Senior member
I'm taking out a loan with my parents, around $300k. Anyways, the thing is that I can qualify by myself for 200k, but I want to know how the tax deduction will work. Our main problem is that my parents work overseas, so they can't really get the tax benefit of a mortgage, but I can since I work in the US. We want to be able to take out a joint loan in the amount of 300, and then have me get all of the tax benefits. Is this possible? or will the fed gov't make us split the tax benefit?
 
I'm not a cpa or tax expert but as long as the deduction is on only one return (or split between them) then I can't see a problem with it.

Although I guess it could depend on citizenship?
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top