tax implications to mortgage refinancing

skyper480 · Jan 26, 2022 1:43:19 PM

<P>What are the tax implications to mortgage refinancing to Cash-out refinance, <SPAN>Cash-in refinance and Rate-and-term to primary home and rental properties?</SPAN></P>

What are the tax implications to mortgage refinancing to Cash-out refinance, Cash-in refinance and Rate-and-term to primary home and rental properties?

posted

You can deduct any mortgage interest incurred by the refinance in the year of refinance. Any points incurred are generally deducted over the life of the loan. Any other costs of the refinancing can be added to the basis of your home for when you sell it.

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