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February 8, 2021
Question

Do i have to claim my house on my taxes if I co purchased our house. I want her to receive any tax credit for the house.

  • February 8, 2021
  • 2 replies
  • 0 views
we're not married. we live together.

2 replies

ColeenD3
February 8, 2021

There is no tax credit for buying a house. You can, however, deduct mortgage interest, property taxes and PMI. You must itemize to take these deductions and if these deductions are not higher than your standard deduction, they won't benefit you.

 

Here's how to enter your mortgage interest statement in TurboTax:

  1. With your return open, search for 1098 and select the Jump to link in the search results.
  2. Follow the instructions to enter your 1098 info

See this LINK for more information.

Employee
February 8, 2021

Generally, unmarried co-owners of a house can only deduct the part of the mortgage interest and taxes that they themselves actually paid.  If you each paid half, or if you funded a joint checking account to pay the expenses based on how much each person earned, then you will have to figure out how much each of you paid. You do not have to claim expenses you paid, but the other co-owner cannot claim the entire expense unless the other co-owner actually paid all of the expense.