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Of course, there's no reason that you can't work something out between you - say you get the mortgage and take the tax breaks, and you give your girlfriend (who's paying half the expenses) half the homeowner-related tax savings.

If one of you does not have enough deductions to itemize without the mortgage interest and property taxes, this is an excellent idea. By splitting the deductions 50/50, you are losing the benefit of the standard deduction on both returns. With one standard deduction and one itemizing, your combined deductions will be larger, and your combined taxes lower.

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