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Split home ownership deductions

My daughter and fiance bought a house last year. If they are both listed on the deed and 1098, can they elect to split the mortgage interest and property tax, or alternatively have one of them itemize and deduct 100% and the other take the standard deduction...whichever is most beneficial?

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1 Reply
DaveF1006
Employee Tax Expert

Split home ownership deductions

They elect to split all expenses 50/50 on their returns. If these amounts are not enough to itemize for either, then one can itemize  all expenses on their return while the other takes the standard deduction. They have this freedom of options while they are not married.  When they marry, then the scenario changes.

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