Can my husband and I file separately and both claim our house

[rjs]

What do you mean by "claim our house"? Do you mean claim an itemized deduction for real estate tax or mortgage interest? You can't both claim the same payments. The general rule is that whoever actually paid the tax or interest can claim it. If it was paid from joint funds you can split it up any way you like. And in the case of spouses who both own and live in the house, there is some leeway to allocate the payments any way you choose, as long as you both agree. But the total amount that the two of you claim can't be more than the total amount that you paid.

Also keep in mind that if you file as married filing separately and one of you claims itemized deductions, the other must also claim itemized deductions. You are not allowed to have one of you claim itemized deductions and the other claim the standard deduction.

[Carl]

For a married couple to file separate, is the worst and most costly way to file tax-wise. When you file seprate returns, both of you *AUTOMATICALLY* disqualify for deductions and credits you would get if you file joint. No EIC, no education credits, and a number of others.

On top of that, if one of you itemizes deductions, then both of you must itemize deductions even if the itemized deductions of one of you is ZERO. Likewise, if one takes the standard deduction then you both have to take the standard deduction even if the itemized deductions of one of you is greater.

If you're wanting to file separate because of student loans, then one of the credits/deductions you lose is that you can not deduct student loan interest. So what you "save" in lower loan payments you will pay in higher taxes and more interest.

[xmasbaby0]

If you were legally married at the end of 2019 your filing choices are married filing jointly or married filing separately.

Married Filing Jointly is usually better, even if one spouse had little or no income. When you file a joint return, you and your spouse will get the married filing jointly standard deduction of $24,400 (+$1300 for each spouse 65 or older)  You are eligible for more credits including education credits, earned income credit, child and dependent care credit, and a larger income limit to receive the child tax credit.

If you choose to file married filing separately, both spouses have to file the same way—either you both itemize or you both use standard deduction. Your tax rate will be higher than on a joint return. Some of the special rules for filing separately include: you cannot get earned income credit, education credits, adoption credits, or deductions for student loan interest. A higher percent of your Social Security benefits may be taxable. Your limit for SALT (state and local taxes and sales tax) will be only $5000 per spouse. In many cases you will not be able to take the child and dependent care credit. The amount you can contribute to a retirement account will be affected. If you live in a community property state, you will be required to provide additional information regarding your spouse’s income. ( Community property states:  AZ, CA, ID, LA, NV, NM, TX, WA, WI)

If  you are using online TurboTax to prepare your returns, you will need to prepare two separate returns and pay twice.

https://ttlc.intuit.com/questions/1894449-married-filing-jointly-vs-married-filing-separately

https://ttlc.intuit.com/questions/1901162-married-filing-separately-in-community-property-states

https://ttlc.intuit.com/questions/1894449-is-it-better-for-a-married-couple-to-file-jointly-or-separ...

Your home ownership might not even have any effect wither you file MFS or MFJ.

With the higher standard deductions it is much harder for many people to have enough itemized deductions to exceed their standard deduction.  You will be capped at $5000 for the state and local taxes including property taxes paid on a MFS return.

2019 Standard Deduction Amounts

Single $12,200   (+ $1650 65 or older)

Married Filing Separate  $12,200   (+ $1300 if 65 or older)

Married Filing Jointly $24,400   (+ $1300 for each spouse 65 or older)

Head of Household $18,350  (+ $1650 for 65 or older)

(Also + $1650 if legally blind)

[NJTAX29]

Thanks for this information.  Would this leeway to also for a rental home as long as both owners agree? In my case, my wife and I own the rental property and pay all expenses from a shared bank account but when filing separately only one person will claim all income and expenses related to the rental. Thanks so much for your help.