sldrozd
New Member

I refinanced my home this year, cashed out to buy another home, now I have 2 houses. Is all of the interest on my new loan deductible since its used to buy both homes?

trying to figure out with the new mortgage interest rules, if I can deduct all the interest of the new loan, the new loan is 485K so it is below married filing joint max interest. it seems that the refinanced loan covers the acquisition of both homes (while it is only secured by the primary residence) so hopefully deductible?