Question

First time homeowner not married

Forum|Forum|2 years ago
January 22, 2024
1 reply
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Hello,

I am a first-time home owner as of Dec 2023 and bought the property with my fiance (we are still not legally married). How should I enter the property tax in this case since both of our names are in the property?

Other

DoninGA

Employee

You can enter the property taxes paid on either tax return or you can enter only the amount on each tax return that was paid by each of you personally.

Note - Property taxes paid are an itemized deduction on Schedule A.

The total of all your itemized deductions on Schedule A must be greater than the standard deduction for your filing status to have any tax benefit.

Standard deductions for 2023

Single - $13,850 add $1,850 if age 65 or older
Married Filing Separately - $13,850 add $1,500 if age 65 or older
Married Filing Jointly - $27,700 add $1,500 for each spouse age 65 or older
Head of Household - $20,800 add $1,850 if age 65 or older