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?
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?
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?
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.
‎February 24, 202410:04 AM
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