Do co-borrower need to report partial resident

[tfbahk]

If you are co-borrower on the mortgage, do you need to report to IRS

[ModestaL]

Please see answer below.

[ModestaL · Accepted solution]

It depends. If you both made mortgage payments, then you can deduct the actual interest payments you paid (usually in Box 3) versus the amount the government paid on your behalf. For example, if each person paid 50% of the mortgage, each person is eligible to deduct 50% of the interest.

Here's a link to the IRS website with more information about Form 1098-MA: https://www.irs.gov/forms-pubs/about-form-1098ma