If you take a cash out when refinancing and the money your cashing out is to reinvest in home improvements on your primary home (roof, paint, deck replacement) do you need to pay taxes on the cashout of $80,000 since it will all go back into the house?0

[Bsch4477]

There is no tax on the cash out and if it is used for improvements you can deduct the interest that you pay on the loan. 

[NCperson]

@Karenwants2know - and all those improvements add to the cost basis of your home, so that when you eventually sell, any capital gains is minimized.