I own a house with a friend, 50/50 split. Both names are on the 1098. Do I enter the values from the 1098 exactly?

[mhorstman1]

I don't know how to indicate the split or how any of these values affect my returns.

[alibablo · Accepted solution]

When entering the information in Turbo Tax, it asks the name of the other party. The IRS will know you claimed less than what you got reported on (it will only report under 1 SSN for the 100% amount) and that it is likely due to the second name on the 1098. As long as you do not deduct MORE than what you get reported on a 1098, there is no issue of a mismatch of information. The second name on the 1098 will not get a reporting on via a 1098, so for that person, it is important that they know how much you reported already.