B
Butterfly
Guest
I lent my brother some money this year. Basically, I took out a small mortgage against my house, gave him the money, and instead of me paying it off, he is. I am doing my taxes now and received a tax form so that I can claim a deduction on the interest paid. The form is in my name. Do I claim it or does he? I am confused because the loan is in my name, yet he deposits the money (including the interest) in my account every month and the payment is deducted from there. Who claims the deduction for interest paid?