With the new tax laws, cashout refinance seems like a mess indendent of when it was done. I bought my primary home in 2005 with a loan of 500k. Later in 2012 i brought down the pending loan amount to 100k by paying off the balance. I refinanced to 700k loan with cashout refinance in 2017. I followed it with another cashout refi in 2018 to 900k. I did not use the cash for improvement of home. With new tax laws i am confused on how to calculate the interest eligible for deduction. Should i use 500k or 100k or 700k or 900k as loan amount to calculate my eligible interest? I do not have the details of exact loan amount before doing cash out refinance. Thanks for the responses!
