Got a 30 year mortgage for $1.17 million back in 2016 when the interest deduction cap was $1 million debt.
Refinanced the remaining principal ($1.01 million) to a new 30 year mortgage for a lower rate in 2019.
My understanding is I'm still allowed to deduct interest up to the old debt limit of $1 million since my refinance was just a rate and term change with no additional money borrowed.
Is this correct?
