Basic after marriage tax questions

[stanw]

I got married in June, and am hoping someone can answer the following:

1. I was renting, though she owned a condo and was paying on it. Do we deduct the mortgage interest for the total year on our return even though we got married in June?

2. What is the combined amount that can be deducted for charity for a married couple?

Thanks.

[mwcpa]

"I was renting, though she owned a condo and was paying on it. Do we deduct the mortgage interest for the total year on our return even though we got married in June?"

The entire amount of interest paid would be deductible if the home was a first or second home and the interest related to home equity (up to 100K of principal, subject to AMT issues) or a mortgage to acquire, improve, etc the home (up to 1,000,000 of borrowings). Other rules apply

"What is the combined amount that can be deducted for charity for a married couple"

The amount you can support as required by law... there is no "magic" gimme number here.... if you gave money to charity and can substantiate it, then you can deduct it... if you did not give money to charity then you cannot legally claim you did. There are charlatans out there who provide the gimme deduction, but realize when you get caught you pay, not them....

[taxref]

Adding a bit to MWCPA's answer, most charitable contributions are limited to 50% of AGI. Some contributions have lower AGI percents. Amounts in excess of the limit can be carried forward.

As correctly stated above, there is no set number one can claim.

[stanw]

Thanks!