topic Taxes in Deductions & credits

Taxes

sunny_m — Wed, 08 Jan 2025 12:05:33 GMT

Hello! My friend and I moved in together, she owns the house and is on all the paperwork. We split payments (i send her the money and then she pays whatever is needed) We just got our house taxes and we are going to split them, but I don’t know how to file my taxes and everything since it’s not in my name

Re: Taxes

xmasbaby0 — Wed, 08 Jan 2025 13:52:10 GMT

Since nothing is in your name and you are not legally obligated to pay the mortgage or property tax, none of it goes on your tax return.

Re: Taxes

sunny_m — Wed, 08 Jan 2025 14:13:59 GMT

Where did you find this information? I can’t seem to find anything on it 🙂 Thank you for your response

Re: Taxes

xmasbaby0 — Wed, 08 Jan 2025 14:21:28 GMT

The person or people whose name is on the mortgage or deed is the person who can enter the mortgage interest or property tax paid onto a tax return. You state that you just "moved in" with a friend---that just sounds like roommates who are sharing costs. The owner of the home will be getting a 1098 from the lender. They can enter the mortgage interest, property tax and loan origination points on their tax return if they are itemizing deductions.

Re: Taxes

TomD8 — Wed, 08 Jan 2025 15:17:48 GMT

@sunny_m wrote "Where did you find this information?"

From page 6 of the 2024 IRS instructions for Schedule A:

"Enter on line 5b the state and local taxes you paid on real estate you own that wasn't used for business, but only if the taxes are assessed uniformly at a like rate on all real property throughout the community, and the proceeds are used for general community or governmental purposes."

2024 Instructions for Schedule A

From page 4 of IRS Publication 530:

"You can deduct real estate taxes imposed on you."

https://www.irs.gov/pub/irs-pdf/p530.pdf

If you're not an owner, the taxes aren't imposed on you.