If two unmarried people buy a house together, both names are on all the paperwork, can they divide the interest paid and both claim half on their Federal Income Taxes?
Thanks in advance
B
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If two unmarried people buy a house together, both names are on all the paperwork, can they divide the interest paid and both claim half on their Federal Income Taxes?
Thanks in advance
B
Yes, they can. However, BOTH must be obligated to pay the loan.
Home loan interest is claimed on schedule A (Itemized deductions).
Agreed!
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