Added to a mortgage through refinance

[tpreston0630]

My significant other, unmarried, refinanced their home this year and added me to the mortgage in the process.  I want to claim the investment income instead of them this year now that I am on the mortgage.  When it comes time, should I select that I refinanced a home or purchased a home this year since I was not on the previous loan and am now on the new one?

[xmasbaby0]

Investment income?    Is the house a rental property or do you live in it?   Do you really mean you want to claim the interest paid on the mortgage?   Who is making the payments and paying the interest and property taxes----you----or the other owner?   Or both of you?

[Critter-3]

What "investment income" is there ?   

Did you not get put on the deed as well ?  Or was it only the loan ?   

Is this your personal residence as well as theirs ?  

And you did not refinance or buy anything.  So are you trying to deduct the mortgage interest paid on the Sch A ?   You can only deduct what you actually paid  and between you both you cannot deduct more than 100% of the interest reported on the 1098 form.   

[Mike9241]

you were not on the original debt so you did not refinance the debt. if you did not refinance the debt it can't be acquisition debt. if it is not acquisition debt then you can't deduct the interest. there is an exception to this if you are an equitable owner (not on the title). an equitable owner is a person who has the economic benefits and burdens of ownership, based on the facts. occupying and maintaining the home and paying the mortgage and taxes on it are factors that might indicate equitable ownership.

when it comes to refinancing there can be limits on the portion of the interest that is deductible regardless of whether you are an actual or equitable owner.

you could not have purchased the home because you apparently are not on the title to it.