My husband and I file as "Married filing separately". We did not own a home from January 1 - July 8, 2019. However, we purchased a home on 07/09/19 and took out a mortgage with lender #1 exceeding $600k. This loan was then sold to lender # 2 on 10/18/19. The outstanding balance with lender #2 as of 12/31/19 was $596k.
Note: The mortgage is solely in my husband's name. Is his mortgage interest deduction limited to only the first $350k of the mortgage even though I cannot claim anything related to the property on my tax return?