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Two Houses
I bought a house in 2018 which my, at the time fiance, moved in with me and made it our primary residence. Now my wife sold her house in September of 2019 which was never rented out or anything like that. Can we deduct the interest and property taxes on hour joint tax forms, and if so do we combine the interest and property taxes or would it be an additional residence?
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Two Houses
Yes, you will combine the interest and taxes for both homes on your joint tax return. You will report the combined deductions on Schedule A Itemized Deductions.
You may also be able to deduct the capital gain, if any, on the sale of your wife's home.
This link to the TurboTax help page, Tax Aspects of Home Ownership: Selling a Home has information that you may find useful.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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Two Houses
Yes, you will combine the interest and taxes for both homes on your joint tax return. You will report the combined deductions on Schedule A Itemized Deductions.
You may also be able to deduct the capital gain, if any, on the sale of your wife's home.
This link to the TurboTax help page, Tax Aspects of Home Ownership: Selling a Home has information that you may find useful.
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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