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In
order for
both of
you to claim
one-half
of the interest
deduction,
both of
you must
be legally
liable for
the loan.
Since only
your daughter
is legally
liable for
the loan,
only she
can deduct
the interest.
Since both
of you are
legal owners
of the property,
both of
you may
deduct one-half
of the real
estate taxes
paid during
the year.
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