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I think i’ve got this but can someone confirm. I own an investment property with three other parties and the loan is split equally into thirds.
On the title however two parties own 25% each and the third owner has half.
Is the interest deductions at tax time based on the loan splits, what each parties pays or the title ownership?
Joint Investment property home loan $1m with A, B and C each 33.33%
Get advice from the relevant professionals but tax deductibility is based on the title isn’t it?
Might want to check with your accountant and then if you need to change those loans get onto your broker before you make yourself an accounting mess.