Ask an AI Accountant
A free tool by
Question
I bought my home in 2011
In 2021 I refinanced and my sister co signed the new mortgage
She is not on the deed
Can she claim the home (I will not be filing since I retired and my income was low)
AI accountant’s answer:
Even though your sister co-signed the new mortgage, she can't claim the home on her taxes if she's not on the deed and doesn't meet the ownership and use requirements for any potential tax benefits. Typically, to claim any tax benefits related to homeownership, such as mortgage interest deductions or property tax deductions, an individual must be an owner of the property with a partial or full interest in it.
Since you mentioned that you retired and had low income, it seems like you might not have enough taxable income to benefit from itemizing deductions. However, your sister cannot claim the home just because you aren't claiming it on your taxes. The tax benefits are generally tied to the legal ownership of the property.
Comment from reviewer
Keeper’s AI Accountant
Track and claim every eligible deduction with Keeper
Keeper is the top-rated all-in-one business expense tracker, tax filing service, and personal accountant.