In 2018 I refinanced my home to pay off my ex the equity in the house. The money was paid directly to my spouse out of escrow. Is this considered a cash out to me?
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1 Best answer
pk
Level 15
Jun 4, 2019 5:08:04 PM
It is a cash-out refinance but is generally not a tax event. What it would change is your mortgage interest payment and therefore how much you can deduct , if you use itemized deduction.
Is this what you meant or am I missing the point?
1 Replies
pk
Level 15
Jun 4, 2019 5:08:04 PM
It is a cash-out refinance but is generally not a tax event. What it would change is your mortgage interest payment and therefore how much you can deduct , if you use itemized deduction.