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figbeebo
New Member

Husband & I file separate & pay 50% of everything. When entering 1098, we always enter 50% of everything. so when asked, should I put full principal balance or just 50%?

 
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Accepted Solutions
DDollar
Expert Alumni

Husband & I file separate & pay 50% of everything. When entering 1098, we always enter 50% of everything. so when asked, should I put full principal balance or just 50%?

Since you are filing separately and each of you are claiming one half of the interest deduction, you should each enter 50% of the loan balance.

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3 Replies
DDollar
Expert Alumni

Husband & I file separate & pay 50% of everything. When entering 1098, we always enter 50% of everything. so when asked, should I put full principal balance or just 50%?

Since you are filing separately and each of you are claiming one half of the interest deduction, you should each enter 50% of the loan balance.

figbeebo
New Member

Husband & I file separate & pay 50% of everything. When entering 1098, we always enter 50% of everything. so when asked, should I put full principal balance or just 50%?

Thank you!
DDollar
Expert Alumni

Husband & I file separate & pay 50% of everything. When entering 1098, we always enter 50% of everything. so when asked, should I put full principal balance or just 50%?

You're welcome.  Thanks for using TurboTax!
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