Who gets to claim the interest paid on a loan on a Contract for deed, the seller or the buyers? (for federal and state taxes) :-( [ Edited by Tabitha3 on Date 11/30/2004 ]
The person who purchased the property under a contract for deed is normally eligible to deduct the real estate tax paid and mortgage interest paid since they have a contract showing a purchase is in progress.
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The person who purchased the property under a contract for deed is normally eligible to deduct the real estate tax paid and mortgage interest paid since they have a contract showing a purchase is in progress.
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