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Elle45
New Member

I bought a home with my sister. The bank sent one tax form with both names. We both pay the mortgage. Should I file and just put the amount I paid. Should I make a copy

 
1 Reply
maglib
Level 10

I bought a home with my sister. The bank sent one tax form with both names. We both pay the mortgage. Should I file and just put the amount I paid. Should I make a copy

If you are both on the mortgage , you would split the mortgage principal (and interest) on your respective tax returns. She should keep a copy with her tax records.  Report in proportion to your payments.  Note, some states (NJ being one requires only deductiion to the proportion of your vested interest).

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