No, NCperson, I'm sorry that's not what I meant at all. You would have to read my original question to get what I was saying. When 2 individuals own a home together and are equally share al expenses, each person can claim half of the mortgage interest and property taxes on their returns (or whatever percentage they have agreed to based on how expenses are split. What I had originally asked about what was do individuals do when the mortgage is above the $750K limit; do they each get to include their half up to the $750K limit or do they have to split the limit in the way married couples do? I read the tax code and it only refers to married and singles, not joint ownership as singles. I've now consulted 2 CPAs who told me that even if 2 individuals share a house over $750K, you are still 2 individuals and get to use the $750K limit in determining how much of the mortgage interest is deductible (because anything over that limit is not). In our case, if we divide our mortgage in 2, it falls under this limit and so we can each claim our full halves. Hope that clarifies.
