Legal Question in Tax Law in Louisiana

taxes

My fiance and I purchased a home together. Who gets the tax write off on their taxes?


Asked on 10/27/07, 9:01 am

1 Answer from Attorneys

Ronald Cappuccio Ronald J. Cappuccio, J.D., LL.M.(Tax)

Re: taxes

The home deduction expenses are taken as tax deductions by the payer of the bills if the payer is obligated. Since you both bought the house, and presumably both are on the note and mortgage, the mortgage interest deduction should be taken based on payments.

You should be aware that if you and your finance get married anytime during the year, even December 31, you are considered married for the full year and can file a joint tax return.

I hope this helps!

Ron Cappuccio

http://www.taxesq.net

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Answered on 10/27/07, 9:11 am


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