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How to Deduct Real Estate Taxes Paid by Multiple Owners on 1040 Schedule A?

I own a property with my domestic partner and we pay real estate taxes through our mortgage. We each pay a different percentage of the mortgage. How can we deduct our share of the real estate taxes on Schedule A? 

 

Here are some assumptions to illustrate: 

  • Form 1098 shows total real estate tax paid in 2023 was $8000
  • I paid 60% of the mortgage payment and my partner paid 40%
  • We are not married and own the property as tenants in common

My understanding is we can each take part of the real estate tax deduction:

- My deduction = $8000 * 60% = $4800
- Partner's deduction = $8000 * 40% = $3200

 

Is my calculation correct? 

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1 Best answer

Accepted Solutions
MinhT1
Expert Alumni

How to Deduct Real Estate Taxes Paid by Multiple Owners on 1040 Schedule A?

Yes, you are correct.

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1 Reply
MinhT1
Expert Alumni

How to Deduct Real Estate Taxes Paid by Multiple Owners on 1040 Schedule A?

Yes, you are correct.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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