How Does Tax Savings Work?

If I buy a place with my brother… both of us would need to apply for the mortgage. How would we both claim to save money? Thanks

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2 Responses to How Does Tax Savings Work?

  1. tito_smo says:
    February 27, 2010 at 4:15 pm

    It’s not worth going into debt and buying a house for tax savings. You basically send $10,000 in interest to the bank so you can qualify for a $2,500 tax break.
    Not the best use of money.

  2. Jen G says:
    February 27, 2010 at 7:23 pm

    Check with a tax advisor. You may both be able to claim half of the tax deductions.