Hi,
I have a question in regards to refinancing. I refinanced in July 2021. Technically, I did not take out any cash as the cash was applied to put funds away for property taxes to be paid at the end of the year. Basically, I didn't have an escrow account before refinancing, so the additional principal added to the loan covered most of the true-up of my property taxes and I also had to write a check to cover the rest. Let's say I went from $100k to $106k in principal and had to write a check for $1k. All-in-all, it increased my principal about $6k and I never received any cash out of refinancing. Am I able to still take a deduction on the full $106k amount or only the $100k?
Thank you for your help.
