Comments on: Tax Benefits for “Shacking up” http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/ ''You can never step in the same river twice.'' --Heraclitus Sun, 12 Apr 2009 20:52:45 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Different River http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-312059 Different River Wed, 29 Oct 2008 01:27:47 +0000 http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-312059 I'm not a tax expert, so I can't give a reference to the tax code, but I am under the impression that anybody can take the mortgage interest deduction for two houses, regardless of how they file, and that property tax is always deductible, whether it's for a residence or not. Again, I'm not a lawyer, not an enrolled agent, not a tax advisor, etc., so ask someone who is one of those things. I’m not a tax expert, so I can’t give a reference to the tax code, but I am under the impression that anybody can take the mortgage interest deduction for two houses, regardless of how they file, and that property tax is always deductible, whether it’s for a residence or not.

Again, I’m not a lawyer, not an enrolled agent, not a tax advisor, etc., so ask someone who is one of those things.

]]> By: Jason http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-311950 Jason Tue, 28 Oct 2008 07:41:13 +0000 http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-311950 Can you answer a similar question for me? and give me a reference to the tax code, if possible? If a couple both owns their own houses and then gets married (still undecided at which house they will still be living and/or how many nights each may spend at both due to travel/work/etc), then can they file separately and have 2 separate "primary residences" and get the tax benefit (writing off mortgage interest and taxes) on both houses (e.g. House 1 on husband's taxes and House 2 on wife's taxes?). And then if there is a sale that happens, then I am guessing that at that point, only the person who is the "owner" will be able to get the 250K (e.g. can't combine and make it 500K). Is there a quantitative analysis? (e.g. 183 days?) if so, what if they split their time, 180 nights together at house 1 and 180 nights together at house 2, then Husband (owner of house 1) sleeps by himself in H1 for the last 6 nights of the year and Wife (owner of house 2) sleeps by herself in H2 those same 6 nights? then H slept in H1 for 186 nights and W slept in H2 for 186 nights - can they have the separate "primary" residences? do they have to file separately? Can you answer a similar question for me? and give me a reference to the tax code, if possible?

If a couple both owns their own houses and then gets married (still undecided at which house they will still be living and/or how many nights each may spend at both due to travel/work/etc), then can they file separately and have 2 separate “primary residences” and get the tax benefit (writing off mortgage interest and taxes) on both houses (e.g. House 1 on husband’s taxes and House 2 on wife’s taxes?). And then if there is a sale that happens, then I am guessing that at that point, only the person who is the “owner” will be able to get the 250K (e.g. can’t combine and make it 500K).

Is there a quantitative analysis? (e.g. 183 days?) if so, what if they split their time, 180 nights together at house 1 and 180 nights together at house 2, then Husband (owner of house 1) sleeps by himself in H1 for the last 6 nights of the year and Wife (owner of house 2) sleeps by herself in H2 those same 6 nights? then H slept in H1 for 186 nights and W slept in H2 for 186 nights – can they have the separate “primary” residences? do they have to file separately?

]]> By: Right Wing Nut House http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-99035 Right Wing Nut House Tue, 10 Jan 2006 19:22:04 +0000 http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-99035 <strong>CARNIVAL OF THE CLUELESS #28</strong> Until late Sunday evening, this week’s contest for Cluebat of the Week was a runaway. Pat Robertson has been a frequent entrant for Carnival participants since we started. The man seems to have a terminal case of foot in mouth disease which wo... CARNIVAL OF THE CLUELESS #28
Until late Sunday evening, this week’s contest for Cluebat of the Week was a runaway.

Pat Robertson has been a frequent entrant for Carnival participants since we started. The man seems to have a terminal case of foot in mouth disease which wo…

]]> By: The (not so) Daily Me http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-98079 The (not so) Daily Me Mon, 09 Jan 2006 05:13:10 +0000 http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-98079 <strong>Virginia Blog Carnival, XVIII</strong> Hello, ladies and gents, and welcome to the 18th edition of the Virginia Blog carnival! Rocinante's Burdens starts us off. I never was quite able to figure Rocinante out. For one, all the quotes on the sidebar and in the top are as if Mr. Rocinante... Virginia Blog Carnival, XVIII
Hello, ladies and gents, and welcome to the 18th edition of the Virginia Blog carnival!

Rocinante’s Burdens starts us off. I never was quite able to figure Rocinante out. For one, all the quotes on the sidebar and in the top are as if Mr. Rocinante…

]]> By: Consumerism Commentary http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-95780 Consumerism Commentary Tue, 03 Jan 2006 03:10:30 +0000 http://differentriver.com/archives/2006/01/02/tax-benefits-for-shacking-up/#comment-95780 <strong>Carnival of Investing #3</strong> Welcome to Consumerism Commentary, this week’s host of the Carnival of Investing! The Carnival of Investing is a new Blog Carnival that collects the best blog entries in the past week or so that focus on the topic of investing. In the words of Mr... Carnival of Investing #3
Welcome to Consumerism Commentary, this week’s host of the Carnival of Investing! The Carnival of Investing is a new Blog Carnival that collects the best blog entries in the past week or so that focus on the topic of investing. In the words of Mr…

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