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Home > Personal Income Tax Planning > Home Equity of a Different Sort-Claiming Deductions for a Home the Taxpayer Doesn't Own - Ed Zollars
Podcast: Personal Income Tax Planning
Episode:

Home Equity of a Different Sort-Claiming Deductions for a Home the Taxpayer Doesn't Own - Ed Zollars
Category: Business
Duration: 00:00:00
Publish Date: 2007-07-14 01:42:07
Description:

This PodCast concerns income taxation where equitable ownership of a home is involved.  Equitable ownership of a home can make a eligible for a deduction for mortgage interest and taxes -  even when the taxpayer is not the legal owner. 

While the taxpayer in the case of Nair v. Commissioner, TC Summary Opinion 2007-116, did not have such ownership, the opinion does outline the requirements a taxpayer would need to demonstrate to have such equitable ownership.

Mr. Nair's failed attempt to obtain a casualty loss deduction also offers some insights into the issue of establishing basis for items that are involved in a casualty loss deduction.

The materials for the podcast can be downloaded from http://www.edzollars.com/2007-07-15.pdf.



This Podcast is sponsored by Leimberg Information Services, Inc. at http://www.leimbergservices.com

Please visit our software, books, and PowerPoint Presentations site at http://www.leimberg.com

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