Tax Year Prior to 2020: Married filing separately mortgage interest

[AmyC]

Yes, entering information in the federal section to transfer to your state itemized is correct.

@Mac1287

@superman23

[Mac1287]

@AmyC 

So these steps are ok? For MFS, I shouldn't select co-own this loan since the loan is owned by me and my spouse?

1. Select None of these apply under Do any of these uncommon situations apply to your loan...? (Co-own does not apply in this case)

2. Under Details from your 1098, enter half the amount for the Principal, Mortgage interest, and Real estate taxes and check the box that says The interest amount I entered is different than what's shown on my 1098

3. Select Primary Home for What kind of property is this loan secured by?

4. Provide explanation that it is split 50/50 for MFS under Tell us why your 1098 is different.

Edit: the reason I'm asking about these steps is someone gave contradicting instructions earlier in the thread that we should select Co-own this loan when filing MFS, even though the TurboTax guide says it's not applicable if the loan is owned with your spouse.

[DaveF1006]

Yes, in this case, it is better to follow the Turbo Tax suggestion than the agent's advice since you and your spouse together are considered a single borrower for loan purposes.

@Mac1287

[superman23]

So the choice I see under “Do any of these situations apply?” reads a little differently - “My name is not on the 1098, or my name isn’t the first one listed on the 1098.” 
For MFS, where both taxpayer and spouse own the house jointly, are joint mortgagors, and they will split the deduction; say taxpayer is listed second on form 1098, SSN on 1098 is spouse’s, on taxpayer’s input, should that boxed be checked or should “none of the above” be checked?

I think I’ve seen conflicting answers. 

[DaveF1006]

Since it is a joint account, my advice is to check "none of the above" as Turbo Tax suggests.

@superman23

[superman23]

Thank you.

I must have missed something. Please let me know where I would see the suggestion of TurboTax. 

[Baysox]

How do I file my taxes separately from my spouse?

[xmasbaby0]

@Baysox You want to know how to file separately from your spouse?   When you are in My Info you are asked if you were married in 2021.  Say yes.   Next question is if you want to file together with your spouse---you say no.   Then you will still have to enter some information--your spouse's name and Social Security number.   You will also be asked if you and your spouse are using itemized deductions or standard deduction since you both are required to file the same way.

If I am filing a separate return why do I have to list my spouse’s information on my return?

Even if you file separate returns (the worst way to file) you each have to list each other's SSN's and some other information on your own tax return.  The IRS can then cross check to make sure you are not "double dipping" for itemized deductions, dependents, etc.

If you are in a community property state, there is more information that will be needed.

Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

If you were legally married at the end of 2021 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $25,100 (+$1350 for each spouse 65 or older)  You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit. 

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return. Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI)

 If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice.

https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...

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