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How do I fill out my 1098 if my divorce was finalized in July 2019? We still co-own the house, however I started paying full mortgage payments August 2019.

 
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3 Replies
MaryK4
Expert Alumni

How do I fill out my 1098 if my divorce was finalized in July 2019? We still co-own the house, however I started paying full mortgage payments August 2019.

You will enter the mortgage interest amount that you actually paid for the year.

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How do I fill out my 1098 if my divorce was finalized in July 2019? We still co-own the house, however I started paying full mortgage payments August 2019.

How do I know how much I paid? There’s only one amount on 1098 that we share. Then do I just enter half of loan on next question?

LeonardS
Expert Alumni

How do I fill out my 1098 if my divorce was finalized in July 2019? We still co-own the house, however I started paying full mortgage payments August 2019.

If you itemize your deductions you will deduct the amount that you actually contributed towards the payments.  You will need to work with your co-owner to determine the amount that each of you contributed towards the amount reported on Form 1098

 

However, you will not deduct mortgage on your tax return if you do not itemize your deductions and take the standard deductions.

 

Standard deductions for 2019

 

Single - $12,200 add $1,650 if age 65 or older add 

Married Filing Separately - $12,200 add $1,300 if age 65 or older 

Married Filing Jointly - $24,400 add $1,300 for each spouse age 65 or older

Head of Household - $18,350 add $1,650 if age 65 or older

 


 

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