If I co-own a home with a partner (not married) and we are both on the 1098, can just one person claim the home? Or do we have to split it? We have a joint bank account.

[HelenC12]

If you co-own a home with a partner, you would only deduct the amount of mortgage interest that you actually paid. If you didn't pay any mortgage interest, then your partner would claim 100% of the mortgage interest. If, for example, you paid 56% of the mortgage interest, enter that amount. Your partner will enter the other 44%.

Additional information: How do I deduct mortgage interest if I co-owned the home?

Related information:

• Where do I enter my 1098 mortgage interest statement?
• What if I don't have a 1098 mortgage interest statement?

[willowbear345]

okay but waht if it is paid from a joint account?

[RobertB4444]

If you each paid an identical amount for the year, then the amount you would put on your returns would be 50% of the total paid for each of you.

[Carl]

The general rules are:

1) You must be legally obligated to pay it

2) You must have actually paid it.

From the "sound" of your post, I'm guessing this property is at least in a partnership that files the 1065 partnership return.  So each claiming 50% on the K-1 shouldn't be an issue at all.

Otherwise, if each of you report it directly on SCH E page 1 with 50% ownership, it still should not be an issue assuming the joint account is for rental income/expenses only.

With a joint account I assume that's where the rental income gets deposited, and where all rental expenses are paid from. Sl each claiming 50% of all income/expenses should not be a problem to deal with, under the rare chance you're ever audited on it.

[Critter-3]

If this is for a home you both live in the you can have all the deductions go on one person's return only since the payment is from a joint account.