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K
kass-argent
June 1, 2019
Question

If I have a co-borrower, do we have to split the mortgage deduction? Or can one of us claim the whole thing?

  • June 1, 2019
  • 1 reply
  • 0 views
My partner and I are co-borrowers on our mortgage. We share all our money in one checking account that the mortgage gets paid from.

1 reply

MargaretL
MargaretL
Employee
June 1, 2019

You must "split" the deduction if you file separate tax returns. Each of your will deduct your paid share.

 If joint account and even amount, you would simply split 50/50. 

K
kass-argentAuthor
June 1, 2019
If we split the deduction, my partner's half would be less than the standard deduction, so he would end up taking the standard. Does that still mean that I can't claim the entire house, since he wouldn't be deducting any of it?
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