My bf and I bought a house in mid year 2008. Both our names are on the title/deed, however, only my name is on the mortgage, since he has bad credit. Needless to say, I'm the only one who can claim the mortgage interest on my tax return. But can my bf claim any of the mortgage payments? Our monthly mortgage payment is near $2k and he pays for half. Can he itemize this as charitable contribution, or can he itemize this as something else?
In addition, since the house was bought around July, his total mortgage contribution for the year is less than the standard deduction. Perhaps he should not claim the mortgage for this year, but what about next year? I'm certain his contribution will be significantly higher than the standard deduction for this year. Thanks in advance for you advices.