Question about filing taxes and being a Co-Borrower on a Mortgage

[Anonymous]

I have a question about filing taxes and being a Co-Borrower on a Mortgage. Last year my parents and I bought a home together. I'm the Co-borrower because my credit would allow my parents to get the mortgage. Otherwise I don't contribute to the monthly payments of the mortgage (I pay for all the utilities, not living there for free lol) and the property tax is done via the mortgage. 

Anyways, we are both filing our tax returns. Do I have to worry about putting anything in regards to the mortgage on my tax return?

[Anonymous]

Since your parents are the principal borrowers on the loan, they are the ones who receive the 1098 at the end of the year and therefore are the ones responsible for claiming anything related to the mortgage on their own 1040s. Since you're a co-borrower, you cannot claim any deductions at the end of the tax year because you didn't take on the mortgage as a principal borrower. If you want some peace of mind, you can always call the lienholder and ask. Hope that helps.