Posted on: 17th Jun, 2012 07:10 pm
Is the income I received from the refinancing of my home taxable income?
Is the cash out from the refinancing of my home taxable income?
Hi mlegalbeagle,
The money that you receive from the refinancing of your home will be considered as a lien on your property. It will be a mortgage. It won't be considered as your income. So, you won't be liable for paying any income tax on the money that you receive as cash out.
Thanks
The money that you receive from the refinancing of your home will be considered as a lien on your property. It will be a mortgage. It won't be considered as your income. So, you won't be liable for paying any income tax on the money that you receive as cash out.
Thanks