You are able to split mortgage interest deductions between you.
Married
filing separate taxpayers are both required to itemize if either spouse decides
to itemize deductions or one spouse will be credited with a standard deduction
of zero.
Therefore, separate filers should use these guidelines
splitting their itemized deductions between them (See IRS
Other Deduction Questions:(
- You may claim itemized deductions on a
separate return for certain expenses that you paid separately or jointly
with your spouse.
- When paid from
separate funds, expenses are deductible only by the spouse who pays them.
- For example,
if otherwise deductible medical expenses are paid from an account owned
by one of the spouses or in a community property state from an account
that's the separate property of one of the spouses under the laws of that
state, only that spouse may claim a deduction for the expenditure.
- When expenses
are paid from funds owned by both spouses, such as from a joint checking
account or accounts considered community property under the laws of the
state in which the spouses reside, you should generally split the
deduction between you and your spouse.
- For example,
if amounts are paid from a joint checking account for interest on a
residence both you and your spouse own, you would each deduct half of the
mortgage interest paid on your separate returns.
- However, if
only one of you is eligible for a deduction for an expense (for example,
real estate taxes on a property owned only by the eligible spouse), only
the spouse who is eligible for the deduction is allowed to claim it, even
if the expense is paid from joint funds. Each spouse must maintain
records documenting who is considered to have paid the expense.
