Ashburn, VA asked in Divorce and Tax Law for New York

Q: IRS saying I am not allowed to take mortgage interest and real estate tax deduction given to me as part of divorce.

In my divorce decree, my ex-spouse agreed that I could take the full mortgage interest and real estate tax deduction on our property jointly owned until our son is financial independent. The IRS is now saying that I am only allowed to take 50% of the deduction because we both own it. The property is owned as tenants in common. Can the IRS take away this deduction from me? It was given to me as a bargaining chip in our divorce negotiations.

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1 Lawyer Answer
Lawrence Allen Weinreich
Lawrence Allen Weinreich
  • Garden City, NY
  • Licensed in New York

A: Your decree cannot over rule IRS rules. You should sit down with your tax advisor or a tax attorney to go over your decree, agreement and the IRS ruling.

Tim Akpinar agrees with this answer

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