Son and daughter bought the house and both are on mortgage and both share all expenses as well as loan payments equally. However, this year, while preparing taxes, son now falls out of standard deduction category with claiming half of the interest and tax deduction with his higher income and is subject to AMT(?) If daughter can claim more of a percentage of the deduction, perhaps both will still be able to claim standard deduction to their benefit. Is this better for them tax-wise?
