Skip to main content
Level 2
June 1, 2019
Solved

Can my fiance and I arrange it so that one person itemizes and claims all of the home expenses while the other takes the standard deduction. We pay from a joint account.

  • June 1, 2019
  • 1 reply
  • 9 views

We are joint owners of the home and all expenses come out of a joint account.

Best answer by Hal_Al

Yes. That is smart tax planning.

In case of an audit, the person claiming the itemized deductions may have to prove he/she paid the expenses. At a minimum, you need to show that you deposited sufficient funds into the joint account to cover those expenses. Better proof would be if you paid  from separate accounts

1 reply

Hal_Al
Level 15
Hal_AlLevel 15Answer
Level 15
June 1, 2019

Yes. That is smart tax planning.

In case of an audit, the person claiming the itemized deductions may have to prove he/she paid the expenses. At a minimum, you need to show that you deposited sufficient funds into the joint account to cover those expenses. Better proof would be if you paid  from separate accounts

Hal_Al
Level 15
Level 15
June 1, 2019
Yes.