I filed my taxes on Feb. 17th I had to pay 900usd. I sent my payment in on april 13th... just in time before the deadine of april15th. Checks cashed and showed up in my bank account on april 17th. So,...
I own a house and went to school last year....I DID get income tax papers for BOTH...is that right? Can I claim them both? I am kinda confused on this one.Thanks for any help :) Additional D...
my best friend has just sold her house and for personal reasons had to move to council accomodation, now she did make a substantial profit from the sale, we were talking this evening with friends and ...
What do i do about a lady i know who has a beauty salon in her house and doesn't report taxes or how much money she makes? To buy cars and houses she makes phony w-2 formS. How do i turn her in?...
I did contract work for under someone for under $1000. He has already paid part of the sum, but he's asking for my social security number before he pays the remaining money. I was under the ...
Our return was accepted and was in processing until a week before the 26th, when I had expected it to be direct deposited. I checked online and for some reason, my refund was shown to be mailed on ...
I'm 14 years younger than my husband. He'll be eligible, in about 2 years, to begin collecting a reduced social security retirement benefit. Since he's self-employed in the ...
I've never received this kind of money before at one time. Are there any tax exemptions up to a certain dollar amount that you can receive before you have to claim it?...
I'm wanting to have a home business and having nothing but fits on trying to figure out all the income tax stuff. The IRS website isn't really helping me much and I've contacted ...
So, a little background here. I work as a waitress at Johnny Rockets, our paychecks are usually around 20-40 dollars depending on how many hours you work/your sales. So the other day we're all ...
He did it and it shows in his pay stub that he has 99 expenditures. He says there's no down side, but to me it's sounds too good to be true. Is the IRS getting that money back somehow. I ...
I'm divorced and "X" and I agreed to alternate each year with the child tax credit. What is the IRS form that needs to be filled out, and where can I get more info to ensure I do it ...
Michelle C
How do I file my taxes if we are both single and both on the mortgage?
We are both on the mortgage, and we have both been paying. We are considered single, and not married by common law. Do we split the interests paid, and file it that way? So if interests equal 200, each would claim 100 I am guessing.
File as single, and claim half of the interest paid.
ponek99
single
Judy1
You each deduct the part of the interest equal to the part of the payment you pay. So if you split the payment evenly, then yes you'd split the interest that way also.
travelguruette
Yes it can be split. The other suggestion of doing your taxes and seeing which way gets the most money is the best way to do it. I am an HRBlock preparer and I know I would try it both ways for my clients.
Spock (rhp)
if you each paid one half the total payments, yes -- you'd evenly split the interest paid for your US taxes on Schedule A [itemized deductions]. don't forget the property taxes paid from the escrow and/or the HUD-1 settlement form.
you do not get to deduct the property taxes you repay to prior owner on HUD-1 if he paid for the year in advance and you repaid his portion -- only the portion that applies to your ownership period if he paid in advance. If payment is in arrears and you are paying, then his payment to you via HUD-1 reduces your payment via escrow.
Nvr2soon
You file separate returns. Use one of the tax software programs $20 to $40.
Calculate the deduction for both. Whichever gets the best return claim 100% of the deduction and then divide it by two when it arrives.
renee
i used to be in the same situation and i asked the people at h&r block. only one of you can claim the mortage.
butterfly13fairies
seperate
call a HR block and just ask them your question...they know the right answer
or any real tax place
i say hr block because that s what comes to mind
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