My husband and I entered into a land contract in 08 with the owner of the land & house. We were paying 12% interest. Some one recently told me that we should be claiming the interest we pay every year on our taxes. Should we be even though we are buying it land contract? Or does the seller do that and get the tax credit on something we are paying for? It doesnt say anything in our contract about claiming taxes and the seller never said a word about it. And we werent sure since we are buying it on payments straight from the seller.