I inherited a house from my deceased father that is now in my name, but the mortgage is still in my fathers name. I have been paying the mortgage since he passed away. I am planning on refinancing loan into my name, but I have to bring up my credit score before they will refinance into my name. Until then, can I claim house on my taxes? Please advise

ANSWER

The BIDaWIZ Team's Answer:

When did your father pass away and did any of his estate cover any portion of the mortgage balance? Since you've inherited the property, it also comes with the mortgage. You are technically responsible for the debt and can and should claim any mortgage interest payments you make during the year on your tax return.