Skip to main content
February 6, 2024
Question

Home Ownership Deduction

  • February 6, 2024
  • 1 reply
  • 0 views

Hello,

 

I have a 1098 from my home mortgage. This property was purchased by my significant other and I. Although the 1098, loan, mortgage, etc only has my name and social on it besides the deed to the home. The deed has my significant others name along with mine. She couldn't be on the loan due to financial circumstances however each month we split the mortgage evenly. I still pay everything she just sends me money. Are we able to split claiming half the 1098 on each of our returns? Or should I just claim the whole 1098 on my tax return and she cant claim anything? Just want to do it right.

 

Thanks!

Thanks

1 reply

KrisD15
February 6, 2024

In order to claim the home mortgage interest, you need to be on the loan and you need to make the payments. 

You also need to Itemize Deductions (rather than use the Standard Deduction).

 

I suggest you make and claim the interest payments since you are on the loan and perhaps the other person could pay and claim the property tax. 

 

IRS Pub 936 

 

 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"