I did a %26quot;cash-out refinancing%26quot; my home several months ago. What is the tax impact on the cash that I received (if any impact at all)?
Tax Impact of Cash-Out Refinancing?cash loan
I assume the question is, %26quot;do I owe income taxes on the money I received by doing a refin?%26quot;
No. It%26#039;s not income. In fact, it%26#039;s a loan and in 99% of the cases, you will get to deduct the interest on your income taxes.
Tax Impact of Cash-Out Refinancing?
loan
None,.as you have to pay it back.
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