Message Font: Serif | Sans-Serif
No. of Recommendations: 0
What items, if any, are deductible in conjunction with the refinance?

Immediately deductible? Nothing, other than the interest that is prorated on the two loans. OK - any property taxes that might be paid through the closing process would be deductible also.

Pretty much everything else must be amortized over the life of the loan.

And a bonus caveat: If you get cash out of the refinance, all of your interest expense on the loan might not be deductible. It will depend on how the proceeds are used.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.