1098 Mortgage Principle Help (Shared Home Loan)

[allen-gross-10]

Me and my fiance both own our home, we're filing separately and I know that we split the interest and tax amounts down the middle, but when it asks for "Your portion of outstanding mortgage principal", do we split that in half as well or do they want to know the total of the loan?
My social is on the 1098 but both our names are on the paper.

[RichardK · Accepted solution]

You split the mortgage principal in half, just like you do the mortgage interest and real estate taxes, click here for a Turbotax article similar to your situation.