topic My fiance and I bought a house in November 2020. We are not married so filing seperately. For "Box 2" in the form 1098 do we split the outstanding mortgage principal? in Deductions & credits

My fiance and I bought a house in November 2020. We are not married so filing seperately. For "Box 2" in the form 1098 do we split the outstanding mortgage principal?

jabronis — Sun, 14 Mar 2021 17:05:43 GMT

We didn't know if we should put the full loan amount or half it since there is two of us.

Re: My fiance and I bought a house in November 2020. We are not married so filing seperately. For...

ColeenD3 — Sun, 14 Mar 2021 17:16:23 GMT

Whoever actually paid the interest and is on the mortgage is the person who gets to claim it. If you are both on the mortgage, you can each take the amount that you actually paid.

Re: My fiance and I bought a house in November 2020. We are not married so filing seperately. For...

jabronis — Sun, 14 Mar 2021 17:46:09 GMT

Thank you. So - we split the PMI 50/50.

But Box 2 ask for the outstanding loan balance. Would we put in what the original loan was since it was taken out in 2020? Or do we split it since there are 2 borrowers?

Re: My fiance and I bought a house in November 2020. We are not married so filing seperately. For...

npierson7 — Sun, 14 Mar 2021 19:08:38 GMT

In your particular situation you should split all amounts on your From 1098, including the outstanding loan balance.