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    Basetip's Avatar
    Basetip Posts: 1, Reputation: 1
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    #1

    Feb 1, 2008, 10:39 AM
    Claiming the interest from a home purchase
    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Feb 2, 2008, 12:19 AM
    Yes, they can. However, BOTH must be obligated to pay the loan.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
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    #3

    Feb 2, 2008, 03:29 AM
    Home loan interest is claimed on schedule A (Itemized deductions).
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #4

    Feb 3, 2008, 04:54 PM
    Agreed!
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