1098

Forum|Forum|3 years ago
March 19, 2023
2 replies
19 views

I co own a home both will be doing standard deduction we split the interest do we do the same for mortgage insurance and property taxes ?

Both names are on the 1098

xmasbaby0

Level 15

If you are both using the standard deduction there is no need or requirement to enter mortgage interest or property tax---which are itemized deductions.

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

MarilynG

Level 15

Yes, you can split the Mortgage Interest, Property Tax, and Mortgage Insurance, if you both actually paid half. If you're both using the Standard Deduction, though, it won't make a difference in your returns.

However, if one of you is close to being able to Itemize Deductions, you might consider letting one person claim all the house-related deductions, since even claiming half won't make a difference in the other person's return, and may benefit the person that itemizes.

Here's more info on Splitting Form 1098.

@RJB01

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