I own a home with my partner, and we file taxes separately. For this home, I would like to take half of the mortgage interest, points, and taxes paid and use them in my tax calculations. My question is, do I also split the "Outstanding Mortgage Principal" in half and put half on my tax form and half on hers? I am up against the 750K/1M limit on deduction, so this calculation significantly changes my tax situation. Thanks in advance for any insight anyone can lend.
