Legal Question in Tax Law in Massachusetts
tax deductions
my 56 year old brother, who I am responsible for, has a permanant head injury (since he was 21) and receives about $16,000 a year in ss and workmens comp benefits. He also owns a home which I live in with him since our mother passed away in 2006. I was wondering, as executor of the estate, am I eligible to claim the interest on the mortgage as a deduction in my income taxes and claim him as a dependent.
1 Answer from Attorneys
Re: tax deductions
To take an individual as a deduction who is a family member, you need to show that you are providing more than 50% of their support. Given the level of his support, I doubt you can do that .
As to the home, the home should have been deeded to you and your brother or such other named beneficiary.
If you are paying the mortgage interest and taxes from your own funds and live in the home, you should be able to deduct the interest. A good accountant will help you with taking the deductions.
If you have not completed the probate of your mother's estate you should do so as quickly as possible. If you require assistance, please contact me ASAP.