Margaret CPA in OH Posted February 27, 2018 Report Share Posted February 27, 2018 I'm not entirely sure about this situation. Unmarried couple have jointly owned condo and joint checking account. They file single but the one with little income wants the one with beau coup income to take entire re tax deduction. Fair? Proper? Legal? I can be persuaded either way (might have been a good debater, able to take either side ). Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 27, 2018 Report Share Posted February 27, 2018 If they agree, I believe they can split the expenses however they want. I'd get it in writing, though, "For 2017, Joe will claim all the mortgage interest and property taxes." 2 Quote Link to comment Share on other sites More sharing options...
Gail in Virginia Posted February 27, 2018 Report Share Posted February 27, 2018 If him claiming all of the expenses results in her being eligible for EITC, I would really hesitate to do the return that way. If it is just a matter of him being in a higher bracket and receiving more benefit from the expenses, maybe. 2 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 27, 2018 Report Share Posted February 27, 2018 Gail is correct; I had not even thought of eitc in this instance. I figured it was just wanting to get the most bang for their deduction buck. If he's the higher earner, he's probably paying most of the expenses anyway. 1 Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 27, 2018 Report Share Posted February 27, 2018 If they are not married, and they do not double dip, who cares who claims what deduction? She will probably not pass the standard deduction anyway??? 1 Quote Link to comment Share on other sites More sharing options...
SaraEA Posted February 28, 2018 Report Share Posted February 28, 2018 Who paid the mortgage? That's who gets the deduction. 1 Quote Link to comment Share on other sites More sharing options...
Catherine Posted February 28, 2018 Report Share Posted February 28, 2018 51 minutes ago, SaraEA said: Who paid the mortgage? Trickier than you might initially think. OP said joint checking - so technically, all funds that go in there belong to both. But it may also be that only one really funds the account, so you could also rightfully say it's the funder's money regardless of whose name(s) are listed. The long and short of it, though, is if they both own, both liable for costs, then they can jointly decide who claims what. As long as they agree, and no fraud of any kind is involved, that's copacetic. 2 Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 28, 2018 Report Share Posted February 28, 2018 I normally give the deduction to the person whose social security is listed on the 1098. I do believe it should be split. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted February 28, 2018 Author Report Share Posted February 28, 2018 Pacun, there is no 1098, no mortgage. I was asking about the real estate taxes paid directly to the auditor from a joint checking account. I split it. 1 Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 28, 2018 Report Share Posted February 28, 2018 Sorry, after reading it, I realize that there is no 1098. Was the auditor from the IRS? Just kidding!!! Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 1, 2018 Author Report Share Posted March 1, 2018 I just knew I should have written county auditor. Haste makes waste and a bit of humor here. Quote Link to comment Share on other sites More sharing options...
grandmabee Posted March 1, 2018 Report Share Posted March 1, 2018 How would deducting property taxes effect EIC......? Quote Link to comment Share on other sites More sharing options...
DANRVAN Posted March 1, 2018 Report Share Posted March 1, 2018 Depends. If joint and separate liability then it goes to the one who pays. If tenants in common and not JSL then they can only deduct their share. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 1, 2018 Author Report Share Posted March 1, 2018 EITC has no place at all in this scenario. Both are retired and financially stable. I was just asking about proper assignment of real estate taxes paid. Thanks for all this input but I think we've come to a resolution, easier than I thought. Back to the really hard issues now - they always appear later in the season when we are crunched for time and brain power, right? 2 Quote Link to comment Share on other sites More sharing options...
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