Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Announcements
Your taxes, your way. Get expert help or do it yourself. >> Get started
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
EastNash37206
New Member

Mortgage interest deduction after divorce?

At my divorce I took out a new mortgage in my name only that included a payout to my ex for their share of equity in the house so I could take solo ownership.  That payout was used to buyout the home so I could own it myself.  For IRS purposes, can I still deduct my mortgage interest or is my mortgage officially tainted as a cashout refi?

2 Replies
EastNash37206
New Member

Mortgage interest deduction after divorce?

I think this is it IRS pub936 page10:

Acquiring an interest in a home because
of a divorce. If you incur debt to acquire the in
terest of a spouse or former spouse in a home
because of a divorce or legal separation, you
can treat that debt as home acquisition debt.

Irene2805
Expert Alumni

Mortgage interest deduction after divorce?

Good research!  Yes - You can deduct the total amount of mortgage interest you paid - it is considered home acquisition debt.

 

IRS Pub. 936 - Home Mortgage Interest Deduction

About Community

Learn about taxes, budgeting, saving, borrowing, reducing debt, investing, and planning for retirement.

3.49m
Members

2.63m
Discussions

Manage cookies
v
ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_~