If there's 2 single borrowers on a home mortgage, how do we claim the Outstanding Mortgage Principal? We split costs buying it 2021 Do we both claim full OMP or 1/2 each?

[onyxnightmares]

We are both on the title and both on the loan. I know we only claim the portions we paid for tax and insurances but the Outstanding mortgage principal says to claim only the portion we are liable for. Would it be the full amount for both of us as we are both liable to pay it off or would it be a 50/50 we each claim as liable for?

[Mike9241]

in the same proportion as you claim th mortgage interest deduction

[AmeliesUncle]

You enter the full amount.

I think it is only asking that for purposes of the limitations if your mortgage is over $750,000/$1,000,000.  And because you are not married, you receive the FULL limit for each of you (not split).