回复：Can the interest of the cash out refi mortgage for a rental p

My understanding is there are 2 types of mortgage interest can be deducted.

1. debt used to buy, build, or improve your home.

Definitely deductable up to 1 milliion and is deductable when calculating AMT.

2. loan proceeds not used to buy, build, or improve your home

up to $100K, and not deductable wehn calculating AMT.

I believe your situation si #2.

IRS has a publication regading definition and qualification. You can find from IRS web site.

 

 

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• 谢谢大侠热心回答！:D) 更多的Qs -小心翼翼的小地主- ♀ (265 bytes) () 12/01/2012 postreply 17:42:57

• 如果自住房的home equity line用于 买投资房 -小心翼翼的小地主- ♀ (50 bytes) () 12/01/2012 postreply 17:49:18

• 2nd Category,No Deduction When Calculating AMT -monkeyboy- ♂ (0 bytes) () 12/01/2012 postreply 18:47:48

• 回复：谢谢大侠热心回答！:D) 更多的Qs -monkeyboy- ♂ (234 bytes) () 12/01/2012 postreply 18:11:37

• Here is the Link for IRS Publication 936 -monkeyboy- ♂ (182 bytes) () 12/01/2012 postreply 18:18:24

• Thank you so much! Will read it.:D) -小心翼翼的小地主- ♀ (0 bytes) () 12/01/2012 postreply 18:39:23

• 再来回答你如果是第二类的，拿出来钱去投资新的investment property怎么算？ -monkeyboy- ♂ (393 bytes) () 12/01/2012 postreply 18:44:44

• 太谢谢了！:D) -小心翼翼的小地主- ♀ (0 bytes) () 12/01/2012 postreply 18:49:57