taxes — sharing deductions for house
My son and his girlfriend bought a house in 2021. They aren’t married so they file separate tax returns. How can they both share the tax benefit in the purchase of the house?
Terry Says
That depends on how the house is titled. If it is in joint name they can each take half of the real estate taxes and mortgage interest. But with the new higher standard deduction, it might not even be useful to them.
