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unmarried partner interest deduction...

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muckamuck

Junior Member
alaska. i own a home with an unmarried partner. in the past we have always split the mortgage interest and property tax deduction 50-50. this year my partner will do better taking the standard deduction rather than itemizing. can i take 100% of the mortgage interest and property tax deduction?. this will increase my refund from $494 to $1018! thanks,
 


abezon

Senior Member
Yes. In fact, you'd do better as a household if one of you took the itemized deductions & the other took the standard deduction for a single person. You just work out how to share the refunds. You can go back & amend 1999, 2000, & 2001 if you want to.
 

muckamuck

Junior Member
thanks abezon--i just thought of this: won't the irs make me claim my partners half of the mortgage payment as income thus negating the deduction?
 
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abezon

Senior Member
No. Any person on the title or mortgage can claim the interest paid, as long as the total interest paid does not exceed what's reported to the IRS.
 

muckamuck

Junior Member
I amended our 1999 returns. I will get back $700 plus the $664 I've already paid. My partner will have to pay an additional $214. Will they hit him with interest on this "late" payment? Will they pay me interest on my overpay? Thanks again.
 

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