If I'm divorced and filing seperately, do I split all interest income for banks, mortgage interest, and any charitable contributions 50/50?

[SeanE1 · Accepted solution]

If you are legally divorced, you would not be able to file married filing separately.  A legally divorced individual can either file as single or head-of-household. You would deduct the interest of bank accounts, mortgage statements etc... if your name and social security number are on the bank accounts and 1098 for your mortgage.  If both of you were on the title to the property, you can divide the mortgage interest and property taxes 50/50, or anyway else the two of you agreed to. Just make sure that the sum of you and your ex's deduction add up to the total and does not exceed the total, (i.e., mortgage interest is $12,347 - you would have $6,173 and your ex would have $6,174) which would exactly equal $12,347 instead of you having $6,174 and your ex has $6,174 which would not equal $12,347, but instead would equal $12,148, which is $1 over the amount on the Form 1098 mortgage interest..

[MTM]

What about 1099-B capital gains and losses?  Do I split each transaction 50-50 too?

[SeanE1]

Is it a jointly held account?  Whose SS# is on the 1099-B

[MTM]

It is a joint tenant brokerage account and my SSN was used as the primary identification number.   Can I just split each transaction shown on the 1099-B and she does the same?

[SeanE1]

That is fine if the both of you agree to that method.

[MTM]

thanks.  The information in my tax return to the IRS will be different than the reported 1009-B, so not sure if this will throw up a flag to the IRS.