If you are both obligated to pay the mortgage (in both your
names) and both DID pay it, on an equal basis, then each
gets to claim half. Check on how the bank lists you. My
office usually shows the whole amount on Sch A, and
subtracts half listing the name and SS number of the other
party- on both tax returns. Perhaps overdone, but two years
later WE have a clue as to what we did if the amount is
questioned.

Nan, EA in LA

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

How are the mortgage deductions handled with nonmarried
couples? Who claims it? My fiance and I bought a house in
July 2005 (we are getting married in April 2006). We also
had opened a joint bank account where we pay all bills from
(we both make around 60,000 each so we contribute the same).

There are two mortgages... one in both our names (the big
one), and the other in his name only (small one).

We recieved the tax information for both these mortgages
today...and are unsure how we proceed in claiming. I assume
he claims anything related to the smaller mortgage cause
that is in his name... but what about the big mortgage that
is in both our names?

Thanks!

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >