Mortgage Interest Deduction Married Filing Separately

Forum|Forum|1 year ago
February 3, 2025
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My spouse and I are married filing separately. We own a home together and are both listed on the tax statements for our mortgage. The mortgage payments are made from a checking account that is owned by us jointly. How should we split the mortgage interest deduction when itemizing our deductions? Is it ok if I deduct 100% of the mortgage interest on my tax return, and my spouses deducts 0%? Or are we required to split the mortgage interest deduction 50%/50% since it is paid from a joint account? In other words, is the rule that we MAY allocate 50/50, or that we MUST allocate 50/50?

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AnnetteB6

You may allocate the mortgage interest in any manner you wish. It does not have to be 50/50 as long as the total amount deducted between the two returns does not exceed the total on the Form 1098.

However, if you live in a community property state, then the allocation needs to be 50/50.

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