topic Did cash out refi to buy out my ex-wife's interest in our home. All money taken above remaining principle goes to her. Is interest on new loan deductible under new laws? in Get your taxes done using TurboTax

Did cash out refi to buy out my ex-wife's interest in our home. All money taken above remaining principle goes to her. Is interest on new loan deductible under new laws?

kobleski — Sat, 01 Jun 2019 20:57:35 GMT

All proceeds from the refinance that are above the remaining principle, will go to my ex-wife solely for the purpose of buying out her interest in this property, and are not part of any other financial settlements of the divorce.

What you did was, purchase your wife's interest in your h...

DDollar — Sat, 01 Jun 2019 20:57:37 GMT

What you did was, purchase your wife's interest in your house. So, as long as your mortgage otherwise qualifies, all of the interest is deductible.