Tax questions

March 01, 2000

Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15. See below for how to submit a question.

I'm 41 years old and support my son. I moved from Florida to Maryland last year and bought a house with my father in October of 1999. We share joint tenancy; however the mortgage company issues a statement reporting interest paid to the first person on the deed, which is my father's Social Security number. Since we're splitting the mortgage equally, how do I go about claiming half of that payment?

You should report half the interest on Schedule A (Form 1040), but on Line 11 instead of Line 10. Line 11 is for "home mortgage interest not reported to you on Form 1098." Next to Line 11, write "See attached" and attach a statement to your return showing the name and address of your father. The statement should explain this situation and show how much of the interest each of you paid.

Frank E. Brodnax, CPA, Ellin & Tucker, Chartered

The above advice is for general purposes only and is not intended as legal, accounting or tax advice. Specific situations may vary.

To ask a tax question, call Sundial, The Sun's telephone information service, at 410-783-1800. Call 410-268-7736 in Anne Arundel County, 410-836-5028 in Harford County, 410-848-0338 in Carroll County. Using a touch-tone phone, punch in the four-digit code 6225 after the greeting. To submit questions by e-mail and access an online tax guide, go to The Sun's Web site at www.sunspot.net/tax.

Selected questions will be answered in the Business section. No questions will be answered personally.

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