I bought a condo this year (2023

Tax Learner

I am married. Husband an I married going on 8 years. We will be filing an uncontested divorce January 2024. I got a morgage and bought a home this year (2023) using only my financials when we made separate living arrangements. How will my taxes be different for the coming tax return?

AlexO

Hello, Tax Learner!

That is a great question!

If you are married at the end of 2023, you'll generally either need to file as married filing jointly or married filing separately.

As for the condo purchase, when you buy a personal residence, generally, you can only deduct the property tax and mortgage interest paid. If you decide to file jointly, you will simply enter the mortgage interest and property taxes paid as an itemized deduction when you file your return. If you file separately, you'll need to use the same deduction as your spouse. Thus, if your spouse takes the standard deduction, you will be unable to claim the property taxes and mortgage interest paid. If your spouse itemizes their deductions, you can enter the property taxes and mortgage interest on your own return.