Scenario: current
loan = 110k current house value
350k Lets say i take out a loan for
210k pay off my old loan and recieve 100k cash out. my interest will go up, will i still get to
deduct the full amount of interest against my rental income? Does it matter what i do with the 100k? Implications of: Improve
rental property? pay down unrelated debt? Nothing-just put it in the bank?, Invest it in stock market or other investment opportunities? When ultimately selling property will my
taxable gain still be calculated after paying off debt (plus any depreciation
recapture)?
