Claim 50% or 100% of the interest paid

[jaja]

The title is on my name. The loan is on two names( me and my wife). Now, the questions is am I able to claim 50% or 100% of the interest paid.


Thanks,
Brat

 

[buzzlightyear]

100%.

It is the legal ownership which ultimately determines the allocation of net income/losses from the property unless there is a partnership at law ie 'carrying on a business' which states something different.