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vlk10
New Member

When entering my 1098 information on my mortgage it asks for me to input only the amount I paid. I split the costs with someone else, do I enter just half the amount?

My significant other pays half of the mortgage and property taxes, so when it asks for me to input the amount I paid and the amount of the mortgage I am liable for on the 1098, I should put half of it, correct?
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1 Reply

When entering my 1098 information on my mortgage it asks for me to input only the amount I paid. I split the costs with someone else, do I enter just half the amount?

Yes, when you split the mortgage with someone who is not on your tax return, then you only enter the portion of the mortgage and property taxes that you paid.  You also keep a note with your tax information to explain that in case you are ever asked about it.  

 

In order for your mortgage payments to be eligible for the interest deduction, the loan must be secured by your home, and the proceeds of the loan must have been used to buy, build or improve your main residence, plus one other home you own that you also use for personal purposes.

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