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<<I think you gave me the answer I needed. We live in KY, we both made about the same income, and split all bills evenly.>>

Which means that if you can agree to split the interest and taxes, you should be good to go.

<< Just one more we both submit the same 1098 and 1099, and on the tax forms enter half the amount. Will the IRS need any written explanation as to why the amounts entered don't match the amounts on the forms? >>

Regarding the property taxes, no. There is no IRS "matching" to the property taxes portion of the Schedule A.

With respect to the interest, just trick 'em.

The interest form (Form 1098) will be reported to ONE of you. Whoever that is, report half of the interest on Schedule A, line 10. The other person can use Schedule A, line 11.

That should solve the problem. And, if IRS does have a question, you'll be able to prove that only half of the interest was deducted on each return.

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