dascpa
Level 11
04-06-2023
03:05 PM
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Not all tax preparers' (properly) not deduct the % of interest associated with non-acquisition debt on refinance. I do. In your 2nd example you actually have 3 subsets of one mortgage: refinance of acquisition debt (original debt as paid down), additional debt not acquisition debt and new debt related to improvements. I would apportion that way.