Sunday, October 11, 2009

Do I have to split the interest or property tax credit with my X on our 2007 tax return?

The Divorce was final 10/1/07


I paid 100% of the mortgage


The mortgage was in my name solely?


The Taxes were in my name solely?


She did not work? I gave her a cash settlement and kept the home.








Thanks.

Do I have to split the interest or property tax credit with my X on our 2007 tax return?
No, sounds like the deduction is yours only.
Reply:I'd guess NO
Reply:I suppose negotiating an agreement with your ex on how to take the credit is out of the question?


If you can't agree, take the amount you genuinely believe you are due. IF you get audited, the IRS will sort it out.
Reply:Did you stipulate this in your divorce decree? Did you settle with her with regard to equity and marital property? A great CPA will allow you to write it off of your taxes, depending upon the fore mentioned answers.
Reply:If she didn't pay it, then she can't deduct it. (And the court can't tell the IRS to accept her claim that she did if she didn't, so anything to the contrary in the decree is meaningless.)


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