Ask Me Help Desk - Mortgage Interest

My fiancé and I purchased our first place this past year. He has been paying the mortgage and real estate taxes so he was going to claim them on his taxes this year since we are not married yet. Well, I just printed our mortgage interest statement out through our lender. I am listed as the primary borrower on the account and my SS# is on there. It states that the lender will report to the IRS the name and SS# of the primary borrower (ME).

On the following page, it states that we can get the primary borrower switched by sending them a letter stating that we would like my fiancé to be the primary borrower and both of us have to sign it. Fine that works for us. I called them, however, to see if we can get it switched for this tax year. They told me that they already reported me to the IRS as the primary borrower and I have to report it on my taxes.

Can I do this (even though my fiancé is the one who has been paying the mortgage and taxes)? It's not an issue with us on who claims it. Both of us will be getting a refund and all the money will be going toward the wedding. We just want to make sure that we file right with the IRS.

Also, I have a son. Since my fiancé supports just over half of the household, I can not file as head of household. If I have to claim the mortgage interest and taxes though, should I be claiming head of household?

Things will be much easier next year after we are married!

Thanks

Michelle

Michelle:

First, if your AND your fiance's name is on the title for the house, then you can allocate the mortgage interest as you see fit. Just make sure that you properly allocate the interest and real estate taxes and do NOT double-claim it.

Second, email me at [email protected] with your phone number so we can discuss the details of the Head of Household issue. It is too complex to discuss here.

Finally, in which state do you live? The reason I ask is that you may already meet the criteria for a common law marriage, which means you could file jointly. It is perfectly legal because the IRS WILL recognize a common law marriage if the state recognizes such marriages.

I know both Texas and South Carolina recognize common law marriage, and Georgia does NOT. A visit to your state government website should provide the answer!

Quote:

Originally Posted by AtlantaTaxExpert

Michelle:

First, if your AND your fiance's name is on the title for the house, then you can allocate the mortgage interest as you see fit. Just make sure that you properly allocate the interest and real estate taxes and do NOT double-claim it.

Second, email me at [email protected] with your phone number so we can discuss the details of the Head of Household issue. It is too complex to discuss here.

Finally, in which state do you live?? The reason I ask is that you may already meet the criteria for a common law marriage, which means you could file jointly. It is perfectly legal because the IRS WILL recognize a common law marriage if the state recognizes such marriages.

I know both Texas and South Carolina recognize common law marriage, and Georgia does NOT. A visit to your state government website should provide the answer!

We live is Wisconsin. I'm 99.9% sure that we do not meet the criteria for common law marriage. We've been together now for about 3 years, but we've only lived together since May.

I agree that common law marriages are NOT recognized in Wisconsin.

I tried calling you, but got no answer. Will try on Monday.