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kendoyuki
New Member

Should my spouse and I who co-own our home (100% owned by us) and filing separately put half the mortgage amounts on form 1098 in the form or each use the full amount?

For example if the mortgage interest is $10,000, do we each put $10K in our respective forms, or do we put $5K in each of our forms, which adds up to $10K between the two of us?
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3 Replies
AnnetteB6
Employee Tax Expert

Should my spouse and I who co-own our home (100% owned by us) and filing separately put half the mortgage amounts on form 1098 in the form or each use the full amount?

You can only claim a total of $10k between the two of you.  You cannot both use the full amount.

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kendoyuki
New Member

Should my spouse and I who co-own our home (100% owned by us) and filing separately put half the mortgage amounts on form 1098 in the form or each use the full amount?

Thank you! Does that mean we should also split the other figures on the form between the two of us? Like the outstanding mortgage principle and the property real estate taxes?

RaifH
Expert Alumni

Should my spouse and I who co-own our home (100% owned by us) and filing separately put half the mortgage amounts on form 1098 in the form or each use the full amount?

Yes, everything should be split according to how much each of you pay. If you both pay half, then Boxes 1, 2, 5, 6, and property taxes should be split evenly. You would select Someone co-owns this loan, and I only pay a portion of it in Do any of these uncommon situations apply to your loan? 

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