Maria lost her job in June of 2022. She was not able to make her...
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Maria lost her job in June of 2022. She was not able to make her mortgage payments for the last six months in 2022. Her parents (who are not on title for the property, and not obligated on Marias mortgage loan) sent in checks to Marias lender (Bank of America) on her behalf, for the last six months worth of payments for 2022. Maria received a Form 1098 from Bank of America, showing that a total of $18,000 in mortgage interest had been paid on Marias mortgage loan for the 2022 tax year.
a. Maria will be able to claim none of the mortgage-interest as a deduction on her Schedule A for the year.
b. Maria will be able to claim all $18,000 of the mortgage interest as a deduction of her Schedule A for the year.
c. Maria will be able to claim about half of the $18,000 on her Schedule A. Her parents will not be able to claim anything on their Schedule A.
d. Maria will be able to claim about half of the $18,000, on her Schedule A, and her parents will be able to claim the other half on their Schedule A.
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