My husband, father-in-law, and myself are all on the loan for the new home we purchased last year. My husband and I are planning to file as married/jointly with dependents. My father-in-law, however, has separate taxes but he'll obviously need to put in that he purchased a house. How does this process work? Do we all file separately as normal? Is only one person allowed to claim that credit? Sorry, I've never owned a home, therefore have never had to file taxes including that information, not sure how it works.
