tax question: can i claim interest on house #2?
Tax Question! Thanks in advance for your help!
My boyfriend and I purchased a house 8/1/2008 as Joint Tenants. The mortgage, title, everything is in both of our names. The mortgage comes out of his bank account each month through autmatic withdrawal. I write him a check for $1200 each month to pay for the mortgage, however. I am a first-time home buyer (this was the first home I ever purchased.) He already owns a house and has owned it for 11 years. We currently have both homes as we are waiting until the market rebounds before putting home #1 on the market). So this new house is his second house and my first.
He is claiming the interest on the mortgage for house #1. I want to claim the interest on the mortgage plus the $7500 tax credit for first time home buyer for house #2 (the home purchased 8/1/08.) Can I do this as the mortgage payment for both homes comes out of his bank account, yet I am paying for it via check to him every month?