Vanessa A
Expert Alumni

Deductions & credits

I am not sure which worksheet you are looking at, however, if you are being asked about your balance that was used to buy build or improve your home, if you simply refinanced for a better rate and the original loan was used strictly to buy, build or improve your home, then you will enter your full mortgage balance as long as you didn't take cash out to use for something else.

 

Refinancing for a better rate does not change the deductibility of a mortgage interest.  

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