@DMarkM1 @LinaJ2020
Can someone please address this situation?
When following all the directions, including noting that both original loan and refinanced one were 100% acquisition debt, deductibility on the refi interest was NOT limited at all, as it should have been! (both orig and refi loan were over the $750k Limit)
I answered correctly that both had cash-out and both used entirely for improvements on the house, (both are 100% acquisition debt) but shouldn't the interest deductibility on the refi loan (2020) be limited
What am I missing or what is TT missing?
