topic Re: Home refinance in Get your taxes done using TurboTax

Home refinance

river041 — Mon, 09 Mar 2026 04:22:29 GMT

We refinance and we received 3 different 1098 forms. We had a HERO loan for the house and we had that paid off with the refinance. Is that considered as a cash out?

Re: Home refinance

RobertB4444 — Wed, 26 Jan 2022 18:31:45 GMT

If your new mortgage was larger than your old mortgage so that you could take cash out of the new loan to pay off debt then yes, that's a cash out.

Re: Home refinance

river041 — Wed, 26 Jan 2022 18:35:36 GMT

It was a “lien” on the house, it’s stated as a 2nd mortgage loan. Still a chashout?

Re: Home refinance

DaveF1006 — Wed, 26 Jan 2022 18:49:54 GMT

Yes, it is still considered a cash out and the interest is not deductible since the loan was not used to improve your home.