Thanks for replying...not to worry. BotXXXXX XXXXXne is that, yes, one of you can take it all. If you each pay 1/2, then the amount one party takes that the other party paid would be treated as a gift to the party taking the deduction
. If the amount of that gift is $14,000 or less it qualifies under the annual gift exclusion amount and you need not report it at all. I would presume that the total interest for the year is less than $28,000 so you need not worry about reporting
it. One of you can simply take the entire deduction.
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