Can I claim the mortgage interest deduction if 2 people are registered at my address?
Article ID: 392 | Last Updated: Thu, Apr 11, 2013 at 12:54 AM
Can I claim mortgage interest if 2 people are registered at my address?
Mortgage interest is deductible if the mortgage is used for the main residence. The moment the property is no longer your main residence or used by other people you will lose the possibility to deduct the interest.
You may still be able to deduct (part of) the mortgage interest if:
- the other persons only use part of your property and you are also living in it
- you only rent out a single room and the rent stays below a certain amount
- you rent out the property for a short period after which you use the property as your main residence again (in that case you will also have to declare the rent.
So it depends on the specific situation whether you can deduct mortgage interest or not. If you rent out the property for say 1 year and you live somewhere else, the property will become an investment in box 3 and you lose the right to deduct the mortgage interest.