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:
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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Yes, you are correct.
Yes, you are correct.
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