Can I deduct real estate taxes on a second home I co-own?

[byronkoch]

I co-own a second home.  I am a tenant in common with a second person.  It is not a rental.  I pay all the property taxes.  Can I deduct 100% of the property taxes?

[Melaine · Accepted solution]

You can deduct the property taxes of any home that has your name on the mortgage papers or deed.  If you own half the property, you can deduct half, if you own property alone 100% then you can deduct 100%.

[byronkoch]

Thank you.  Does this also include mortgage interest?

[Melaine]

You are welcome, and yes it does.

[byronkoch]

Thanks again.  Sorry for all the follow-up questions!  Is the split based solely on ownership % or who actually paid the taxes/interest?  Or does the IRS care as long as our combined claims don't exceed 100% of the total taxes/interest?