Tax implications for cash-out refi of an investment property

[Christian Flanders]

Hello!

I am planning to do a cash out-refinance from my investment property to fund the down payment on a primary residence. Will the interest I pay on the refi be tax deductible since it is being used to purchase a primary residence? Thank you!

[Ashish Acharya]

Originally posted by @Carini Rochester:

I doesn't matter what the money is used for. What matters is that the loan is on an investment property, so the interest you pay on that is an expense against that property.

Not correct!