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Originally Posted by cosmicdd Hi
I live in PA. Divorced in 2015. My ex (female) and I (male) are BOTH on the title and mortgage of the house. Ex lives in the house with primary care of the kids. I live elsewhere and pay her alimony and child support. From the alimony, child support, and what money she makes herself, she pays the entire mortgage. Am I eligible to claim any of the mortgage interest or real estate tax for my tax deductions?
Thank you!! |
It depends;. In the eyes of the mortgage lender, you remain married and liable for the mortgage unless you sell the house or refinance. Usually, when both you and your ex-spouse own the home or you're both liable as cosigners on the mortgage loan, you're entitled to deduct as alimony one-half of the mortgage payment, real estate taxes and property insurance you pay. Your ex-spouse must report the payments as income/alimony.
Likewise, you and your ex-spouse each may take itemized deductions for half the real estate taxes paid, as well as mortgage interest paid (again, it must be a qualified home for this deduction).
.If the house changes ownership as a result of the divorce, then there will be some tax consequences. If you take sole ownership of the home, but your ex-spouse lives in it, you may deduct the full amount of mortgage interest; you can't claim any of the interest payment as alimony. If your ex-spouse owns the home and lives in it, but you take responsibility for the house payments, then you deduct that money as alimony on your 1040; your ex-spouse would have to report the alimony as income on her 1040, but could also claim the mortgage interest deduction as the owner;