Sorry, @GSD77 another difficult question. I have already determined that all my original loan balance (prior to 2020 REFI) is 100% acquisition debt that because it originated Nov. 2017, the limit up to $1 million applies. However, it is NOT the original purchase loan. It is a refinance of the purchase (Original ) loan that was itself refinanced in both 2015 and Feb. 2020 both with cash-out for improvements. (renovating an old house since 2013 purchase)
Do I enter the origination date (on the combined 1098) of THIS 'original loan' (Nov, 2017) or from the Original purchase loan (sept., 2013-a much lower balance) that preceded it which makes the whole thing very tortured?
All previous cash outs plus an additional $20k (within 24 months of 2020 REFI) were spent on improvements so the Nov 2017 loan plus additional 20k above its balance should be acquisition debt and grandfathered? TT and answers here all seem to refer to the 'original loan' prior to the 2020 refinance as the original purchase loan.
THANK YOU
