Cashout Refinance & Cost Basis
Does a refinance that returns equity reduce cost basis?
PP: $200
Closing Costs: $1
Basis: $201
Return of Equity: -$5
Adj Basis: $196
Loan: $175
LTC: 89% or 87%?
Randomly made-up numbers.*
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Yes. Pulling cash/equity out would reduce your equity in the transaction.
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