Can a co owner mortage be claimed separately?

[joeyjoejoe2179]

My partner and I co-owners of a house.  He wants to claim half the taxes on part of the house’s under his income tax but will receive less of a refund.  When I claim the taxes under my account I receive a significant about more.   Would we get in trouble if I claim the house under my name only?

[Marketstar · Accepted solution]

In order to deduct mortgage interest and property taxes, there are two requirements .

1) You must actually pay the interest and the property taxes.

2) You must be legally liable for the debt or hold title to the property.

If you are both legally liable and both make equal payments, you should each deduct 50% of the mortgage interest.

In other words, you should deduct according to your liability and the dollar amount of the deduction you actually paid