Are you still entitled to mortgage interest deduction after a divorce?
Yes, you are still entitled to a mortgage interest deduction after the divorce, but only for the portion of the mortgage that corresponds to your share of ownership in the home. If you continue to live in the home and transfer the entire mortgage into your name, you can deduct the interest, provided your income is sufficient. The departing partner loses the right to mortgage interest deduction for that home, unless he or she makes an arrangement such as temporary co-ownership.
More questions about divorce or separation
- Do I need a notary to change the mortgage in a divorce?
- What about mortgage interest deduction after a divorce?
- What happens to home equity when buying out a partner?
- What happens to my interest-only mortgage if I buy out my partner after a divorce?
- What if I do not meet the income requirements after the divorce?
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