1098

RJB01 · ‎March 19, 2023

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 · ‎March 19, 2023

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.

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MarilynG1 · ‎March 19, 2023

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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