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IMATAXMAN
Level 2
December 7, 2019
Solved

Rental cash out refi. Is there any tax if the new loan exceeds the adjusted basis?

  • December 7, 2019
  • 1 reply
  • 18 views

Cash out rental refi- Is there gain if the new loan exceeds the adjusted basis of the property?

Also, is the interest deductible only to the adjusted basis and the remaining consumer or investment?

This topic has been closed for replies.
Best answer by TaxMonkey

Assuming this is an individual with a rental property.  The loan is not taxable and the interest is not deductible.unless used to buy, build or improve the property.

1 reply

T
TaxMonkeyAnswer
Level 7
December 7, 2019

Assuming this is an individual with a rental property.  The loan is not taxable and the interest is not deductible.unless used to buy, build or improve the property.

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