Just wanted to clarify I understand this correctly. If my mother is the owner of the property and I am the co-owner (due to an assumption last year) and we pay mortgage payments out of a joint account, I can not claim the full interest/tax on the property? We are required to split 50/50 or can we use a different ratio depending on who is putting more money in the account? I am taking itemized deduction therefore will benefit from claiming the interest/tax while my mother is taking standard deduction so it will not make any difference for her.
