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ying034
October 12, 2023
Question

I did a cash out refinance to my primary home to pay off mortgage of rental property. How to report mortgage interest expenses?

  • October 12, 2023
  • 2 replies
  • 0 views
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2 replies

A
Anonymous_
Employee
October 12, 2023

This could be an issue (where you cannot deduct the interest as home mortgage interest nor use tracing to apply the loan to the rental property).

 

I'm going to page @AmeliesUncle.

    A
    AmeliesUncle
    October 13, 2023

    Just to clarify, you "refinanced" your existing mortgage, and your new mortgage now includes BOTH the prior mortgage amount PLUS the 'cash out' that you paid off the rental, right?

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