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I am the second name on the mortgage interest statement. We have decided to divide the interest in half. Should I only include half or should I enter the whole amount?

I am not sure if Turbo tax will automatically take half of the Interest paid or should I enter half of the interest?

Best answer by HelenaC

Enter 50% of the mortgage interest.

The 1098 Mortgage Interest Form is generally issued in the SSN of one of you (not both).

The person who does not have their SSN on the 1098 Mortgage Interest Form needs to check the box that says "Our names are not on the 1098, or neither of our names are listed first on the 1098" in the mortgage interest section "tell us more about your loan ..." . See the screenshots below.

The person whose SSN appears on the 1098 Mortgage Interest Form has to indicate that the form shows a different amount then is reported. See the screenshots below.

For the property taxes, there's nothing special you need to do. Just split it.

Related Information:

H

Employee

Enter 50% of the mortgage interest.

The 1098 Mortgage Interest Form is generally issued in the SSN of one of you (not both).

The person who does not have their SSN on the 1098 Mortgage Interest Form needs to check the box that says "Our names are not on the 1098, or neither of our names are listed first on the 1098" in the mortgage interest section "tell us more about your loan ..." . See the screenshots below.

The person whose SSN appears on the 1098 Mortgage Interest Form has to indicate that the form shows a different amount then is reported. See the screenshots below.

For the property taxes, there's nothing special you need to do. Just split it.

Related Information: