The cash-out part of the cash-out refi

本帖于 2010-11-21 08:29:54 时间, 由普通用户 jy101 编辑
回答: Can any CPA confirm this?ConeHead2010-11-20 22:11:27

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.

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知税避税,节流开源。 还是泡泡好哇! -美西游子- 给 美西游子 发送悄悄话 美西游子 的博客首页 (0 bytes) () 11/21/2010 postreply 09:23:55

or used it for other personal use, like vocation or child educat -RE8888- 给 RE8888 发送悄悄话 RE8888 的博客首页 (246 bytes) () 11/21/2010 postreply 10:27:26

I think the rationale is this: -Conehead- 给 Conehead 发送悄悄话 Conehead 的博客首页 (180 bytes) () 11/21/2010 postreply 10:36:21

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