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Two on mortgage... who gets the deduction

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M

mlittle24

Guest
...if I purchased a home with someone else and both are names appear on the mortgage, who should file/collect the deduction?
 


H

hcutt

Guest
Either, but not both, are entitled to the full deduction. If necessary, you could even split the deduction but both must not deduct more than the total deduction allowed. If you are married and choose the later, remember that both parties must either take the standard deduction OR both parties must itemize. I suppose if your single this does not matter.
 

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