Solved: Do unmarried co-owners of a home need to take house-related deductions in porportion to payments actually made?
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Do unmarried co-owners of a home need to take house-related deductions in porportion to payments actually made?

My partner and I purchased a home together in 2016, we are both on the mortgage, and both listed on the 1098 (though I'm listed first).  My question goes to allocation of the house-related deduction (interest, PMI, taxes).   We pay via a shared account, some months 50/50, some months differently based on other expenses that come up for maintenance, etc. and who pays for those expenses.   Should we stick to the 50/50 allocation of the deductions, or actually add up the amounts each contributed for the year, and get a ratio? It seems like 50/50 would be the most straight forward. 

Thanks in advance.

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Level 9

Do unmarried co-owners of a home need to take house-related deductions in porportion to payments actually made?

Both methods are fine. In general, you should divide your expenses based on who paid them; but since they are deducted form a joint account, you can divide them 50/50.

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Level 9

Do unmarried co-owners of a home need to take house-related deductions in porportion to payments actually made?

Both methods are fine. In general, you should divide your expenses based on who paid them; but since they are deducted form a joint account, you can divide them 50/50.

View solution in original post

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