Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 02-26-2015, 04:28 PM
Junior Member
 
Join Date: Feb 2015
Posts: 1
House Interest Deduction while separated

My spouse and I have been separated since Sep 2014. She lives in our primary home while I live in an apartment. She maintains a minimal income ($400/month) therefore I pay for the mortgage and all household expenses. My question is, for the 2014 tax year, who is eligible to claim interest deductions on the house if we file separately? Florida has no "legal separation" statutes.

My second question is that we have 2 college aged children. Our daughter is a full time student and is away in college (does not work). Our son is a part time student, earns less than $3500/month, and lives with my spouse in our primary home. Both are younger than 23 y/o. Can I claim both the children as dependents since I provide the majority of their educational and living expenses?

Thank you.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Second Home Mortgage Interest Deduction texasgal2015 Miscellaneous 1 01-28-2015 11:22 AM
Mortgage interest deduction vs charity deduction bjrn Itemized Deductions 1 04-19-2014 11:20 AM
Mortgage interest deduction nghi199 Itemized Deductions 0 03-06-2014 04:40 PM
mortgage interest deduction neilsmith Divorce Tax Issues 1 04-26-2013 02:07 AM
Using Mortgage Interest Deduction instead of Student Loan Deduction MrGermyD Itemized Deductions 0 01-14-2011 11:20 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning