Father pays house payment on son home can father take this off his taxes?

Similar questions: father pays house payment son home taxes.

TLW is correct. The father is not the mortgagee, the son is. Therefore the interest and taxes paid give tax benefit to the son.

That sounds more like a gift to the son. Since the son is not a non-profit organization, gifts to him are not tax-deductible.

I am inclined to think that he cannot; unless his son is making payments to the father - in which case, the payment for his son can be deducted from the payments recieved FROM the son. However his son can deduct the mortgage interest from his OWN taxes, and probably owes his father at least a steak dinner for helping him out.

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" "who pays the taxes on the house?" "how should I do my taxes?

My father just died and had sold his house and had put it into a trust. Will I have to pay taxes on this money?

How do the finance company pays the taxes on interest received from the customers on any vehicle loan.

I have not been able to pay my taxes will they take my home.

I currently reside with my father and pay rent. If I inherit the home will my property taxes increase?

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