174721
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Can I deduct additional debt after refinancing?

I refinanced a home mortgage in 2017 after a divorce in that same year. When I refinanced I added some debt, however, a large portion of it was a pool loan. Can I add the pool loan amount (remainder) to the original mortgage for interest deduction?

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
DDollar
Expert Alumni

Can I deduct additional debt after refinancing?

You can deduct the interest that is from the old loan, and the amount that was added that you used for the pool.  Any of interest on the debt that was not used to improve or purchase the home is not deductible. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question