Message Font: Serif | Sans-Serif
No. of Recommendations: 0
<< If you split the interest deduction it may not be enough to trigger schedule A (standard deduction will probably be higher) unless you have other significant deductions. It might be more beneficial for one of you to claim all of the interest and split the difference. >>

It may very well be beneficial to do so, but I don't think it will stand up to an audit if the person taking the deduction didn't make all the payments.

Phil Marti
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.