Is your reply to the question below still valid? My partner and I co-habitat and co-own a home. We are both listed on the mortgage loan, property title, and the 1098 (I am listed first with SSN). A number of years ago we saw online advice that mortgage interest and property tax deductions could be split "as most advantageous" to the two co-owners, as long as the total of the splits shown on both returns did not exceed 100% of the actual total interest or prop tax. This seems to be what you are saying in the first paragraph of your reply below.
However, the last paragraph of your reply says each party can deduct "..the actual amount of taxes and interest you paid." This is not the same thing, yet you end with suggesting trial tax return runs to see which is most advantageous to both parties.
Current IRS response to this question is summarized in: https://www.irs.gov/faqs/itemized-deductions-standard-deduction/other-deduction-questions/other-dedu... The IRS response seem to say each party can only take what they "actually paid." There is additional language in other IRS documents which seems to contradictory... " determine the split on all relevant factors" vs "deduct only what each party actually paid."
We would appreciate your current thoughts on this subject. Thanks.
