Co-own home with boyfriend

[karenb2987]

My boyfriend and I co-own a home; both of our names are on the mortgage. The mortgage is paid out of a joint checking account; both of our names are on the checking account. Must we each claim 50% of the mortgage interest OR can one of us claim all of the mortgage interest?

[Carl]

In order to claim the mortgage interest, two criteria must be met.

1) You must be legally obligated to pay it.

2) You must have actually paid it.

So paying it from funds in a joint checking account, you'll have to split it 50/50.

Same holds true for property taxes unless one of you can prove (if audited) you paid more or less than 50%. With funds coming out of a joint account, that's almost impossible.