We are RDP who refied our home last year and need to know how if we divide the amount paid for the loan and points on our individual taxes?

[sanndycharette]

We own the home jointly.

[JulieR · Accepted solution]

Yes, you can divide the loan costs, including points, between each other so long as you are both on the loan.  However, with the increase in the Standard Deduction this year ($12,000 for single filers and married filers filing separately, $24,000 for married filers filing jointly and $18,000 for heads of household), you may want to consider whether or not it is more beneficial to claim the Standard Deduction rather than itemizing these expenses on Schedule A of your return.