Updated over 4 years ago on . Most recent reply
rental property cash out
if the rental property is no debt, and get a cash out refinance, the interest I paid on the cash out refinance, is it tax deductible on this property ? CPA said the cash out is tax deductible if the cash I get is use it for other rental property. Can I classify this cash out as return capital to myself ? and still deduct interest on Schedules on this property. I cash I get from cash out I will use to wait for buying other property when I find one or invest in stock, bond.