1098 filing separate

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skillet
skillet Member Level 2

We split our house payments 50/50. Since the 1098 is addressed to just one of us, we each file the same 1098 with half the interest and taxes.

So my question is, how in FreeTaxUSA can we leave a note to identify the other person who is claiming the other half of the tax and interest.

Thanks for any help.

Best Answers

  • Taxlady06
    Taxlady06 FreeTaxUSA Agent
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    If you have joint ownership of your home or rental property, you will divide the interest between the two owners based on your ownership agreement. If you each paid half of these expenses, you will report 50% of the amount listed on your return. The IRS does not require information regarding your joint ownership on your return. We suggest you keep copies of your 1098 along with your ownership agreement with your tax records. This information can be used if the IRS contacts you requesting additional information.

  • Taxlady06
    Taxlady06 FreeTaxUSA Agent
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    Currently there is not an option to include supporting information for deductions when you e-file. You and/or your housemate do have the option to print and mail in your tax forms to include this information.

    If you select to do this, your housemate can attach a document that includes how much of the interest she of you paid. She can then list the name and address of the person (you) who received the 1098 form as well as an explanation of the ownership agreement.

    This documentation can avoid any issues as the IRS processes the return(s).

Answers

  • skillet
    skillet Member Level 2
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    OK thanks, that’s what we’ve been doing. But in 2023 my housemate started a business and will likely itemize. The mortgage is in my name so when she takes the tax and interest deductions won’t the IRS need a reference to the 1098?

    How can we add a note? Or, is it acceptable to add a note onto the 1098 form itself into an empty box?

  • skillet
    skillet Member Level 2
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    Thank you very much for taking the time to answer!

  • Taxlady06
    Taxlady06 FreeTaxUSA Agent
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    You are welcome! Let us know if you have any additional questions.