Two homes

I own my own home. My wife owns her own home. My adult children live in my home. We file Married Separately usually. Can we each claim our own homes on our taxes?

posted

When you file married filing separately you are required to file the same way---you both have to itemize deductions or you both have to use your standard deduction. So if you are filing MFS, you can each itemize and enter your own mortgage interest and property tax amounts. The property tax deduction will be capped at $5000 for each of you.

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