Three individuals on a loan for one property. Can the mortgage interest and the property taxes be split three ways?

[SweetieJean · Accepted solution]

It is split according to the actual amounts paid by each person.

Are all three on the deed?

[LAMDT]

All three are on the deed and on the loan. The split would be determined based on the amount paid and agreed upon  between the three individuals? I am presuming as long as the amounts add up to equal the amount shown on the 1098 and the property tax bill? Thank you for your time.

[macuser_22 · Accepted solution]

Each person on a loan can only deduct what they actually pay assuming that they are not spouses.  You cannot deduct what someone else paid unless you are married to them.