ptheland writes (in part):For AMT purposes, the interest on your home acquisition debt (up to $1 million) is deductible. That is any money used to buy, build, or substantially improve your home.I reply:This includes a refinance of the loan originally used to acquire the property, at least where no additional cash was taken out, right? --Bob Correct. Any cash out provided by the refinance becomes equity debt. The remaining principal balance from the original loan retains its character as acquisition debt.Ira
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