bethbailey[at]adelphia.net (Beth) wrote:

- quote -

You are entitled to what you, not he, paid and were liable
for. Period.

Now if the mortgage and taxes were paid out of a joint
checking account to which you both contributed, then you can
probably say that your contributions went towards
tax-deductible expenses and his contributions went towards
other stuff, provided that you contributed enough to cover
the stuff you're deducting.

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bethbailey[at]adelphia.net (Beth) wrote:

- quote -

So long as you're on the title (for property taxes) and on
both the title and the loan (for interest), you can claim so
much as you can prove you paid. (If you're not on the title,
you get no deduction at all; if you're not on the loan, you
can't deduct interest.) The basic rule is that (1) you must
be obliged to pay and (2) you actually did pay.

--
Chris Green

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bethbailey[at]adelphia.net (Beth) writes:

- quote -

You are only entitled to what you paid. If you
only paid 50%, you can only deduct 50%.

--
Rich Carreiro rlcarr[at]animato.arlington.ma.us

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Beth wrote:

- quote -

You are entitled to claim whatever you paid and are
responsible for. It's a question of state law, and the
exact text of the mortgage and (for tax) the form of
ownership you've taken, and it's a LEGAL question, rather
than a TAX question, but it seems likely you are both
responsible for the full amount.

But you can only deduct what you paid.

If his name is first on the 1098, be sure to use the
line for "mortgage intrest NOT reported on a 1098", or
the IRS matching will fail. Unless you're married by
then, there could be a problem.

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"Beth" <bethbailey[at]adelphia.net> wrote

- quote -

You are entitled to the amount you actually paid. So, how
did that work out? Pooling of funds probably allows for
some leeway, while each of you splitting the payment would
mean to split the deduction.

------- Life may not be the party we hoped for,
but while we are here,
we might as well dance.
------- Paul A. Thomas, CPA
taxman at negia.net

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My finace and I bought a home last year. Only one of us
wants to itemize our deductions and claim the mortgage
interest and tax. Since he will not be claiming his half -
Can I claim the full amount on my own taxes, or am I only
entitled to 50% period?

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