 |
|
| Browse | Ask | Answer | Search | Join/Login |
|
|
||||
|
Live in NJ, work in NYC, first-time home owners
My husband and I moved from NY to NJ in July 2009. I am currently living in NJ but continue to work exclusively, full-time in NYC. Even though we are now married and first-time home owners, we do NOT file jointly, but we both own our home and will also have the additional paperwork, insurance, taxes, etc, associated with owning a home. How do I go about filing my income taxes? What additional paperwork must be done, regarding the home mortgage, living/work situation? How can I avoid this confusion and excess in the future? Thank you!
|
||||
|
||||
|
Take alook here: Publication 936 (2009), Home Mortgage Interest Deduction at the section "More than one borrower" about half way don the page. When you receive your 1098 statement from the mortgage company which reports mortgage interest and real estate taxes paid, it will have only one social security number on it. You need to decide how to split the amounts across both tax returns. You enter the amounts on schedule A, write "see attached," and add a statement to your return explaining how much interest and taxes each of you are taking, and the name and address of the other person taking the deductons. If you want to avoid this in the future - file jointly! Are you sure that filing separately is advantageous for you? |
||||
| Question Tools | Search this Question |
Add your answer here.
Check out some similar questions!
My home address is GA so will my income tax reflect payments to NY State or City for this employment? Peter
Hi all, I live in Queens, NY, and my office is in NJ. When I do my taxes I have to do NY and NJ because of this. I have been offered to transfer to a NYC based office in Manhattan. I already work out of that office but I am not officially assigned there. I am told it might be beneficial...
For all of 2007, I lived and worked in Suffolk County four days per week, and I lived in the Bronx three days per week (not working during those three days). My employer generated my w-2 form with non-resident status based on my working and living in Suffolk County for my emploment. My question is,...
:confused: I recently moved to nj oct. 06. I continue to work in nyc as a teacher my husband a paramedic in brooklyn. We also own our prior home a 3 fam building in brooklyn, ny. Should we fill out taxes in nj and if we don't does that affect our property tax break(nj) or property tax Rebate(nj)?
I just moved to NJ last August. I worked half a year as a NY resident and now half a year as a NJ resident. I just did my taxes and found that I owed NJ. Does anyone know how to figure out how much money to put aside for next year? I was under the impression that since NY has higher taxes I...
View more questions Search
|
