362794

I refinanced my home in ca. and received a cash out amount do I pay taxes on this amount?

if I do require to pay taxes ,on cash amount is it both fed.& state?

posted

Connect with an expert

1 Best answer

Accepted Solutions

I refinanced my home in ca. and received a cash out amount do I pay taxes on this amount?

No, “cash out” loan proceeds from a refinance is not taxable income, and therefore not reportable on your tax return.

View solution in original post

1 Reply

I refinanced my home in ca. and received a cash out amount do I pay taxes on this amount?

No, “cash out” loan proceeds from a refinance is not taxable income, and therefore not reportable on your tax return.

Still have questions?

Questions are answered within a few hours on average.

Post a Question

*Must create login to post