Mortgage interest deduction?
by Mortgage Rates on Wednesday, October 6th, 2010 | 2 Comments
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You are entitled to 50% or the amount that you paid, whichever is LESS.
Hello,
I am not a cpa, tax preparer, or attorney, but I do have a real estate background. Typically, if you are both on the mortgage you can both claim writing off the interest. The amount you decide on claiming is up to you and your boyfriend, as long as it adds up to the correct dollar amount. For example: let’s say you paid $10,000 of interest, you can claim $9,000 if he agrees to claim $1,000.