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I share a home w/ another family, I know I split the mortgage interest and property taxes on my form, but do I also split the outstanding mortgage principal as well?

 
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JulieR
Expert Alumni

I share a home w/ another family, I know I split the mortgage interest and property taxes on my form, but do I also split the outstanding mortgage principal as well?

Yes.  You will divide the outstanding mortgage balance by the same percentage you used to divide the mortgage interest and property taxes reported on the return.

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JulieR
Expert Alumni

I share a home w/ another family, I know I split the mortgage interest and property taxes on my form, but do I also split the outstanding mortgage principal as well?

Yes.  You will divide the outstanding mortgage balance by the same percentage you used to divide the mortgage interest and property taxes reported on the return.

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