so AlanT222 or anybody else that can answer. If your original loan was $150,000, you've paid it down to $140,000. But in 2016, you've refinanced and taken say and extra $30,000 in a refinance. So your new loan is $170,000 and of the $30,000 amount of cash out, you pay $15,000 in back debt, and do $5,000 of work that same year but couldn't get the rest scheduled until 2017's dry season... then you use the other $10,000.
So, does the 2017 count as the build/improve for that 2016 refi? Since it was a different tax year? ...and in some sense, we are still talking about the percentage used of the 2016 loan for non build/improve for 2020 taxes...
Which brings up question 2. If you paid that $15,000 on other debt in 2016, but in the period of time, having your first mortgage i.e. 2008-2016 (preceding refi), and the time from refi to today. If you've put in more than that $15,000 "out of pocket" into Build/Improve (not counting the $5,000 and 10,000 you did in 2016/2017. would that cancel that percentage that taxable percentage out, or is that value lost until you sell the house, and start over on the next?
