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New Member
posted Jun 6, 2019 6:41:58 AM

We took extra money when we refinanced our mortgage. does that get reported as income? If so, where?

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1 Best answer
Level 7
Jun 6, 2019 6:42:00 AM

If you are referring to loan proceeds from the refinance, it is not taxable or reportable as you are required to repay the loan.

1 Replies
Level 7
Jun 6, 2019 6:42:00 AM

If you are referring to loan proceeds from the refinance, it is not taxable or reportable as you are required to repay the loan.