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Is the cash taxable that I receive in a cash back refinance of a rental home I own?

I am refinancing a rental home I own and taking cash out.  Is that cash taxable?
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Level 15

Is the cash taxable that I receive in a cash back refinance of a rental home I own?

The cash back you receive from a refinance is not taxable income.

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Highlighted
Level 15

Is the cash taxable that I receive in a cash back refinance of a rental home I own?

The cash back you receive from a refinance is not taxable income.

View solution in original post

Highlighted
Level 15

Is the cash taxable that I receive in a cash back refinance of a rental home I own?

No. It's not taxable.

However, if you did not use the cash out money to improve the rental property that secures the loan, you can not claim or deduct the interest on it.