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New Member
posted Feb 24, 2024 6:00:57 AM

I recently co-signed a mortgage for my child and setup a trust so that I would not be impacted as the value grew. I know I need to claim this but do not know how?

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1 Replies
Moderator
Feb 24, 2024 10:04:21 AM

You can't claim mortgage interest payments unless you use the property for business or you rent it out.

 

If you have income from a trust, the trust would have to issue you a tax slip, which you would then enter on your tax return.