No, you may not have two primary residences at the same time. You are filing jointly so you may consider one home as the primary home and the other as a second home. The IRS allows the same deductions for a second home as the primary home. Since you are filing jointly you will combine your deductions and report the combined amount for each deductible item as one entry. You may experience a cap on your mortgage interest deduction, for 2021 interest is deductible on only the first $750,000, also the maximum amount of taxes paid is limited to $10,000in state and local sales, income, and property taxes.
Edited [02/28/2022 | 5:23 PM PST]
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February 28, 20225:16 PM
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