Example:
John and Jane are unmarried and co-own a home. Each file taxes separately. John claims the full $10,000 mortgage interest on the home they share. Can Jane also claim the full $10,000 mortgage interest since they are defined as un-married cohabitants?
You'll need to sign in or create an account to connect with an expert.
No, you both cannot claim the full amount (100%) of the mortgage interest. However, if two or more persons are jointly and severally liable for a mortgage, each is primarily liable for that debt, and each is entitled to a deduction for the interest on that debt that he or she pays. So if you two split the mortgage payment 50/50 then each of you would be allowed to claim 50% of the interest.
No, you both cannot claim the full amount (100%) of the mortgage interest. However, if two or more persons are jointly and severally liable for a mortgage, each is primarily liable for that debt, and each is entitled to a deduction for the interest on that debt that he or she pays. So if you two split the mortgage payment 50/50 then each of you would be allowed to claim 50% of the interest.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
Alejbailey
Level 1
Myaard54
Level 1
nabatta1
New Member
NYCtaxAvoider
Level 2
rrinella23
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.