Based on your post, I take it that you are still NOT married to this day.
My partner and I purchased our first home in 2022. We are unmarried.
Congrats! That's the biggest financial step you'll take in your entire life most likely.
Does a married couple post-purchasing a home benefit more than an unmarried couple in 2022?
It's kinda 6 of one, half dozen of the other. When an unmarried couple purchased a home together, it depends on the income of each partner individually, as to which is the best way to file.
For starters, who has the higher amount of SCH A deductions? With no kids, I would expect it to not make any difference really. If this home is the primary residence for both of you, you can try several things since your only deductible expenses for this purchase are property taxes and mortgage interest.
First split the mortgage interest and property taxes 50/50 between the two of you. They will be included as an itemized deduction on SCH A. Most likely, the total of all itemized deductions will not exceed your standard deduction of $12,950 for each of you.
Next, have the highest income earner claim all the property taxes and mortgage interest paid and see if the total of all itemized deductions exceeds their standard deduction of $12,950.
Third, have the lower income earnder claim all the property taxes and mortgage interest paid and see if the total of all itemized deductions exceeds their standard deduction of $12,950.
Most likely, regardless of how you report this, it's possible the standard deduction will not be exceeded by the itemized deductions. If so, then I recommend you just split it 50/50. Makes the most sense if you're planning to getting married at any time while you two own this house.
My partner makes more than I do. We both work full time and have no children. Paying bills/mortgage 50/50.
