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Primary home cash out refinanced in 2018. Converted to rental later in 2018. No refinance after rental conversion. Can i deduct all interest paid as expense?
I refinanced my primary home in feb’ 2018 with a cash out. Later during june’18, i converted the primary home to rental but did not use the cash out for home improvement. I did not refinance after i converted to rental in june’18. For the calculation of mortgage interest as expense, IRS publication only discusses the scenario of cash-out refinancing done after rental conversion.Since i started the rental with the cashout refinanced amount, can i consider the entire mortgage interest paid on it as my expense on the rental property?
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June 3, 2019
12:00 PM