New home purchase slipt between two people who are not married.?
Posted by admin | Under Home Purchase Wednesday Oct 29, 2008My 'husband' and I are not legally married but are considered common law. We just purchased a new home in September and I am starting to receive all of the tax documents for house. I am not sure if our state (Oklahoma) recognizes common law marriage so I don't know if we'll be able to file jointly. If we are required to file single who is suppose to claim the house or do we split it?
you may also try Turbotax.com. its a free site and it can figure up all kinds of stuff and options. It will ask you all sorts of question. It doesnt charge you unless you try to print or if you try to E-file
Techinically, whoever paid the interest should claim it, but whoever's ssn is first should claim it and then part or all of it can be allocated/delegated to the other person, but this has to be done on the first person's return.
If I were you, I would get a professional to prepare your returns. Then can easily run it a number of ways and find the best tax scenario for you.
P.S. I didn't know that common law marriages could file joint!
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Your tax adviser could also see who would have the greater gain by claiming the house.
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Friend of mine is in the same situation, but it typically falls under her name for the couple to get the greatest credit.
you may also try Turbotax.com. its a free site and it can figure up all kinds of stuff and options. It will ask you all sorts of question. It doesnt charge you unless you try to print or if you try to E-file
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