If the husband lives and works in one state and pays a mortgage, and the wife lives and works in another state paying another mortgage; what is this called (besides a lousy set-up). Which home is the primary residence (can there be 1 for each person)? Can they file as singles (since these are abandoned spouses)?
2007-07-12 07:09:46 · 3 answers · asked by Chemical Bros 2 in Business & Finance ➔ Taxes ➔ United States
You can deduct mortgage interest on your schedule A for two residences regardless of your living situation. For instance a husband and wife living together can deduct interest for two homes that they spend 6 months each in or a "main" home and a "summer" home. Real estate taxes are deductible for as many properties as you own.
2007-07-12 12:24:23 · answer #1 · answered by FlCpa 3 · 1⤊ 0⤋
If you are still married and not legally separated, you cannot file as single. You will file as married filing separately, unless there is a child living at home. In this case, the parent living with the child can file as Head of Household. The HH is allowed only if the spouses spend no time at each other's residences for the last half of the year.
You each have a primary residence. You will likely each itemize your deductions and deduct your own mortgage interest and real estate taxes.
Even though you live apart you are still allowed to file a joint return if you choose.
2007-07-12 07:17:23 · answer #2 · answered by ninasgramma 7 · 1⤊ 0⤋
They cannot file as Single if they are still married. They can file separate returns though will usually pay higher taxes that way. They can always file a joint return even if they live apart. The mortgage interest and property taxes on both homes are deductible however they choose to file their returns.
2007-07-12 07:14:18 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋