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Returning Member
posted Dec 2, 2021 11:07:57 AM

Divorce and Property Tax Implication

My divorce was finalized this year. We jointly paid house expenses for the beginning of the year and then I moved out in March. Since we refinanced shortly before I moved out, my former spouse has not refinanced the house yet in just their name. I am still listed on the mortgage and title and won't be removed until next year.

 

My question is how to reflect this on my taxes. My ex bought me out of the house as part of our divorce settlement though the house is still in both of our names. I did jointly make payments initially in the year but my ex has covered all housing costs for the majority of the year. Am I still entitled to take a deduction for the payments I jointly made? Do I still list the house as a property of mine even though it is not my residence? 

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2 Replies
Level 15
Dec 2, 2021 12:26:59 PM

You can each deduct the interest you paid however it may not be enough to itemize deductions since you only paid a portion of the year.  

Level 15
Dec 3, 2021 4:58:40 AM

You may have to do the math, but for most people the best solution is let your ex take all the deductions and you use the standard deduction.