4 thoughts on “Who Gets Mortgage Interest

  1. TaxMama says:

    Hi Gregg

    Thanks for the suggestion. But I think what they are trying to do is to give each of them the WHOLE deduction every other year. Which would make perfect sense.

    Why?

    With interest rates as low as they are these days, using half the mortgage interest and half the property tax might not allow EITHER of them to get benefits.

  2. Gregg Akin says:

    Hi TaxMama, How about if they each wrote a check for half of the mortgage payment each month? Would that solve the problem?

    Thanks! Gregg

  3. TaxMama says:

    Hi Florina,
    The way they have handled the payments for 2010, he should be taking the deduction for the payments on the 2nd TD since he paid them.

    On the first, he paid part of – and can get the deduction for his share.
    She paid most of it – and should get the deduction for her share.
    (You’re right – they say, it works out to about 50-50.)

    There’s more detail in the original question.
    http://taxmama.wpengine.com/forum/taxquips/mortgage-interest-property-taxes-real-estate-taxes/

    Hugs
    Eva

  4. Florina Pinder says:

    I think that they should split the mortgage interest and property tax down the middle.

Leave a Reply