LSTAX
Level 4
10-06-2021
05:31 PM
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but one of the examples I found states this which I thought applied since the extra funds were used on a remodel:
A taxpayer can retain the grandfathered $1 million interest limitation, even if they refinance after 12/15/17. However, the refinanced debt can't exceed the mortgage balance at the time of refinancing, unless the additional amount can be considered acquisition debt and the total indebtedness falls below $1 million.