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New Member
posted Jun 4, 2019 11:05:01 PM

My fiance and i bought a house together last year. Can we both claim the house? Also do one of us claim head of household?

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1 Best answer
Level 15
Jun 4, 2019 11:05:03 PM

If you are both on the mortgage and deed, you can divide up the amount you each paid to enter on your own tax returns if you want to, as long as what you each enter does not exceed 100% of the total that was paid in interest and property tax  You may find that does not help either one of you exceed your standard deduction though--itemized deductions have no effect until they exceed your standard deduction.

As for HOH--does one of you have a child?   Neither of you can be the qualifying dependent for the other to file as HOH.  

Am I Head of Household?

https://ttlc.intuit.com/questions/1894553-do-i-qualify-for-head-of-household

https://ttlc.intuit.com/questions/2900097-what-is-a-qualifying-person-for-head-of-household

STANDARD DEDUCTION

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, job-related expenses, casualty and theft losses, for example, must meet thresholds that are pretty hard to reach.  The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Here are the Standard Deductions for 2017

Your standard deduction lowers your taxable income.  It is not a refund 

2017 Standard Deductions

Single    $6350  (65 or older + $1550)

Married Filing Separately   $6350  (65 or older +  $1250)

Married Filing Jointly           $12,700  (65 or older + $1250@)

Head of Household $9350  (65 or older + $1550)

3 Replies
Level 15
Jun 4, 2019 11:05:03 PM

If you are both on the mortgage and deed, you can divide up the amount you each paid to enter on your own tax returns if you want to, as long as what you each enter does not exceed 100% of the total that was paid in interest and property tax  You may find that does not help either one of you exceed your standard deduction though--itemized deductions have no effect until they exceed your standard deduction.

As for HOH--does one of you have a child?   Neither of you can be the qualifying dependent for the other to file as HOH.  

Am I Head of Household?

https://ttlc.intuit.com/questions/1894553-do-i-qualify-for-head-of-household

https://ttlc.intuit.com/questions/2900097-what-is-a-qualifying-person-for-head-of-household

STANDARD DEDUCTION

Your itemized deductions have to be more than your standard deduction before you will see a change in your tax owed or tax refund.  The deductions you enter do not necessarily count “dollar for dollar;” many of them are subject to meeting  tough thresholds—medical expenses, job-related expenses, casualty and theft losses, for example, must meet thresholds that are pretty hard to reach.  The software program uses all the IRS rules that apply to the expenses you enter, and it tells you if you have enough to use your itemized deductions or if using the standard deduction is more advantageous for you. Here are the Standard Deductions for 2017

Your standard deduction lowers your taxable income.  It is not a refund 

2017 Standard Deductions

Single    $6350  (65 or older + $1550)

Married Filing Separately   $6350  (65 or older +  $1250)

Married Filing Jointly           $12,700  (65 or older + $1250@)

Head of Household $9350  (65 or older + $1550)

New Member
Jun 4, 2019 11:05:07 PM

Are names are both on the mortgage/deed. Would I just split the  interest and the property tax in half?

Level 15
Jun 4, 2019 11:05:09 PM

You can do that.