Wife is owner of home and In loan name is wife and payment by husband so wife can deduction principle and interest Please suggest me. Thank you
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Quick Summary
This discussion clarifies who can claim the home loan interest deduction. If your wife is the legal owner of the home and the loan is in her name, she is the only one eligible to claim the principal and interest deductions, even if you are the one making the payments. The consensus is that the deduction follows the loan owner.