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Can my fiancé and I BOTH deduct the full mortgage interest rate on Form 1098? We are not married but co-own our home. Please reference IRS AOD: 2016-02

Forum|Forum|7 years ago
June 3, 2019
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Example:

John and Jane are unmarried and co-own a home. Each file taxes separately. John claims the full $10,000 mortgage interest on the home they share. Can Jane also claim the full $10,000 mortgage interest since they are defined as un-married cohabitants?

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Best answer by Patrice11

No, you both cannot claim the full amount (100%) of the mortgage interest. However, if two or more persons are jointly and severally liable for a mortgage, each is primarily liable for that debt, and each is entitled to a deduction for the interest on that debt that he or she pays. So if you two split the mortgage payment 50/50 then each of you would be allowed to claim 50% of the interest.

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Patrice11Answer

Employee

No, you both cannot claim the full amount (100%) of the mortgage interest. However, if two or more persons are jointly and severally liable for a mortgage, each is primarily liable for that debt, and each is entitled to a deduction for the interest on that debt that he or she pays. So if you two split the mortgage payment 50/50 then each of you would be allowed to claim 50% of the interest.