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ernj5311
New Member

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?
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Marketstar
Level 7

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.


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1 Reply
Marketstar
Level 7

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

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