Filing taxes "MFS", who claims taxes and mortgage interest?

I am separated and will be filing separately from my spouse for reasons that make sense. I will most likely be claiming "Head of Household" because, from what I've read, I will qualify. My husband and I both own the primary home. Our son lives with me full time. We each contributed toward the mortgage payment, paying from separate accounts as we've always kept our accounts separate. I pay the majority of the mortgage and from what I've read we should each claim what we each actually paid. That said, do we determine what percentage each of us paid and split out the mortgage interest and taxes based on that percentage?

For example;

Mortgage payment: 3,650

I paid: 2,650 73%

Spouse paid: 1,000 27%

Is this how we should split the mortgage interest and taxes?

Update:

I am NOT in a community property state. My spouse has NOT lived at the house for the entire year.

5 Answers

Relevance
  • 9 years ago
    Best Answer

    If you know how much each of you paid, then that is what you should put down.

    However, if you are filing MFS merely to maximize your return, then manipulate it until you do.

  • 9 years ago

    You can deduct what you actually paid. IF you file head of household your husband will have to file married separate. MFS is a higher tax bracket. Are you in a community property state? That brings up other questions.

  • Bobbie
    Lv 7
    9 years ago

    Possibly.

    mortgage interest paid the interest on a qualified home held as tenants by the entirety the mortgage interest you alone paid.

    For more information on a qualified home and deductible mortgage interest, see Publication 936, Home Mortgage Interest Deduction.

    Dividing itemized deductions. You may be able to claim itemized deductions on a separate return for certain expenses that you paid separately or jointly with your spouse. See Table 1, later.

    Do you happen to live in a community property state?

    Usually it is more beneficial to file as married filing joint than it is to file as married filing separate. To answer your question you will have to prepare a return both ways using the correct standard deduction for each filing status and if one itemizes the other should itemize also as the others standard deduction is -0-. If you do not itemize then the standard deduction for each is $5,700 for 2010.

    For more information go to www.irs.gov and use the search boxes for the publication and tax topic. Publication 501, Exemptions, Standard Deduction, and Filing Information Tax Topic 353, What is your filing status Publication 504 , Divorced or Separated Individuals

    And if you live in a community property state you could have other considerations to think about.

    You may be able to claim itemized deductions on a separate return for certain expenses that you paid separately or jointly with your spouse. Deductible expenses that are paid out of separate funds, such as medical expenses, are deductible by the spouse who pays them. If these expenses are paid from community funds, the deduction may depend on whether or not you live in a community property state. In a community property state, the deduction is, generally, divided equally between you and your spouse. For more information refer to Publication 555, Community Property.

    Jointly owned?

    Held as tenants by by the entirety or in joint tenancy?

    If you and your spouse are separated but do not meet the four conditions discussed earlier under Spouses living apart all year, you must treat your income according to the laws of your state. In some states, income earned after separation but before a decree of divorce continues to be community income. In other states it is separate income.

    Go to the www.irs.gov website and use the search box for Publication 504

    http://www.irs.gov/publications/p504/index.html

    http://www.irs.gov/publications/p504/ix01.html

    http://www.irs.gov/publications/p504/ar02.html#en_...

    Married Filing Separately

    If you and your spouse file separate returns, you should each report only your own income, exemptions, deductions, and credits on your individual return. You can file a separate return even if only one of you had income. For information on exemptions you can claim on your separate return, see Exemptions , later.

    Community or separate income.

    If you live in a community property state and file a separate return, your income may be separate income or community income for income tax purposes. For more information, see Community Income under Community Property , later.

    Separate liability.

    If you and your spouse file separately, you each are responsible only for the tax due on your own return.

    Itemized deductions.

    If you and your spouse file separate returns and one of you itemizes deductions, the other spouse cannot use the standard deduction and should also itemize deductions.

    Table 1.Itemized Deductions on Separate Returns

    This table shows itemized deductions you can claim on your married filing separate return whether you paid the expenses separately with your own funds or jointly with your spouse. Caution: If you live in a community property state, these rules do not apply. See Community Property.

  • Judy
    Lv 7
    9 years ago

    Correct, split it based on how much each of you actually paid.

  • How do you think about the answers? You can sign in to vote the answer.
  • Anonymous
    9 years ago

    The IRS publication 504 covers this, but it boils down to what each of you paid.

Still have questions? Get your answers by asking now.