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mskellyerb
New Member

On form 1098 Do I claim half of the interest paid, outstanding mortgage balance and property taxes paid? I co-own my mortgage and pay half.

 
2 Replies
MinhT1
Expert Alumni

On form 1098 Do I claim half of the interest paid, outstanding mortgage balance and property taxes paid? I co-own my mortgage and pay half.

Yes, if you co-own the property at 50% and paid 50% of the mortgage payments and property taxes, you should claim 50% of the amounts reported on form 1098.

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Opus 17
Level 15

On form 1098 Do I claim half of the interest paid, outstanding mortgage balance and property taxes paid? I co-own my mortgage and pay half.

If you own the home with your spouse only, you and your spouse can divide the interest and property taxes in any way you want.  If the other co-owner is not your spouse, you can only deduct the part you actually paid, whether it was less, more or exactly half. 

*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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