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Updated over 7 years ago,

User Stats

17
Posts
1
Votes
Ivan M.
  • Fort Mill, SC
1
Votes |
17
Posts

Can I as the consigner take all the depreciation on my taxes

Ivan M.
  • Fort Mill, SC
Posted
Besides the point of not doing business with family...I'm purchasing a house for my mom who will pay me rent. To get a better interest rate and rate on property taxes she has offered to be on the mortgage and deed. Again, I will pay everything myself (small mortgage, insurance and taxes) and technically don't need a co signer but it seems silly not to take at least consider this option. My question is can I take all the depreciation on MY taxes being a co signer (non occupying)? Again, I will be paying everything anyway. Besides this question, I'm open to any other thoughts (besides the issue of don't do business with family). FYI. Shes getting older and is simply tired of being a homeowner. She has more money in the bank than I do. She wants to be able to call someone should repairs etc. be needed. Thanks!

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