The cash-out part of the cash-out refi does not factor into your cost basis. You should be able to deduct the closing cost of such re-fi over the term of the loan, and the interest paid for the year. But the cash-out is not included in any part of the tax filing. This is assumed that you either used the money to improve your house, or used it to buy other rentals.
The cash-out part of the cash-out refi
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知税避税,节流开源。 还是泡泡好哇!
-美西游子-
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11/21/2010 postreply
09:23:55
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or used it for other personal use, like vocation or child educat
-RE8888-
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11/21/2010 postreply
10:27:26
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I think the rationale is this:
-Conehead-
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11/21/2010 postreply
10:36:21