topic Thanks! in Get your taxes done using TurboTax

I refinanced my home in 2013, and took out cash, in order to buy out the co-owner. Is that considered 'cash out', or an improvement since I now have 100% instead of 50%?

Mel3 — Mon, 03 Jun 2019 18:05:33 GMT

I still own the same home, and I am still the only person on the mortgage.

Since you were purchasing the home from the co-owner that...

Vanessa — Thu, 06 Jun 2019 08:04:46 GMT

Since you were purchasing the home from the co-owner that would be considered buying, not a cashout. So interest would be deductible on all of that as long as you didn't use any of the cash for anything else.

Thanks!

Mel3 — Thu, 06 Jun 2019 08:04:47 GMT

Thanks!