turbotax icon
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

co-owned property occupied by one owner

Hi, my ex and I own an apartment with 50/50 ownership and also have a mortgage under both names.  We decided to keep the way it was when we divorced.  He stays and lives in the apartment and pays all the mortgage and he will claim the mortgage interest and property tax on the tax return.

Is there any problem that I need to concern about? Is 50% of his monthly mortgage payment considered rental income to me? 

This feature is pending. Thanks for your patience.
Didn't get the answer you wanted? Our digital assistant can help you.
2 Replies
Level 15

co-owned property occupied by one owner

Since your ex is paying liabilities (mortgage & property taxes) that are imposed on him (as well as on you) there is no problem for you.  The mortgage payments are not considered income to you.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.

co-owned property occupied by one owner

@txs_my_lord - the only 'problem' you'll have could be down the road when it's time to sell.  the ex will have the benefit of the capital gains exclusion (assuming the ex continues to live in the property during 2 of the last 5 years of ownership), but you won't be able to have that benefit, since you are not living there......

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing
Manage cookies