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jax5571
New Member

My boyfriend and I bought a house this year but we do not file jointly. How do we claim the house? Alternate?

 
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3 Replies
Carl
Level 15

My boyfriend and I bought a house this year but we do not file jointly. How do we claim the house? Alternate?

Assuming both of your names are on the deed, and on the mortgage loan, you will each claim the amounts you "actually paid" with your own money on your individual tax returns.

My boyfriend and I bought a house this year but we do not file jointly. How do we claim the house? Alternate?

You and your BF can enter the amounts you each personally paid for the mortgage interest, property taxes and loan origination fees (if any). And of course, if you are not married you cannot file a joint return.  Some information on what is deductible for home ownership:

Home Ownership

There is not a first time home buyers credit on a Federal return. That ended in 2010. If your state has such as credit, you will be able to enter it when you prepare your state return.

Buying a home is not a guarantee of a big refund.  Your deductions for homeownership combined with your other deductions (if any) must exceed your standard deduction to change your tax due or refund. If you purchased your home late in the year, you do not even have a full year of home ownership deductions.

 Go to Federal> Deductions and Credits> Your Home to enter mortgage interest, property taxes, and loan origination fees (“points”) that you paid in 2016.  You should have a 1098 from your mortgage lender that shows this information.

Your closing costs on your new home are not deductible except for prepaid interest, prepaid property tax or loan origination fees.  There are no deductions for appraisal, inspections, title searches, settlement fees. etc.

Your down payment is not deductible.

Your homeowners insurance for fire, hazard, flood, etc. is not deductible for your own home.

Home improvements, repairs, maintenance, etc. for your own home are not deductible.  

Homeowners Association  (HOA) fees for your own home are not deductible. 



https://ttlc.intuit.com/questions/2900844-where-do-i-enter-my-1098-mortgage-interest-statement

**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**

My boyfriend and I bought a house this year but we do not file jointly. How do we claim the house? Alternate?

But unless all of your itemized deductions exceed the standard deduction there will be no tax advantage to claiming it at all.  In you case all itemized deductions must be more then $6,350 to have a tax advantage.

For 2017 the standard deductions are:

Single or filing Married Filing Separately - $6,350
Married Filing Jointly or Qualifying Widow(er) - $12,700
Head of Household - $9,350

(If over 65 or blind add $1,250 - $1,550 if filing single or HOH)
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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