- 10 -
1973) (citing Estate of Meyer v. McGrath, 238 P.2d 597, 605 (Cal.
Dist. Ct. App. 1951)). Thus, here, legal title to the property
passed to petitioner at the time of Mr. Blake's death, in August
1998.
The Court holds that petitioner is entitled only to mortgage
interest deductions on Schedules A, Itemized Deductions, for the
interest portion of mortgage payments she made on the property
from the date of Mr. Blake's death in August 1998 through
December 1999. Petitioner is not entitled to a mortgage interest
deduction on Schedule A for payments she made prior to Mr.
Blake's death because she was not directly liable on the note
securing the mortgage and she has failed to prove that she was
the legal, equitable, or beneficial owner of the property during
that period.
Reviewed and adopted as the report of the Small Tax Case
Division.
Decision will be entered
under Rule 155.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11
Last modified: May 25, 2011