did a re-fi. if I sell house, does the re-fi money count as profit

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If I sell the house now after having it as my primary residence for two years, does my profit include the money I took out when I did the re-fi?

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Borrowed money isn't capital gain. However, you will have a calculated increase from the basis of your home's value and the realized profit on sale.

I'm sure accountants and tax professionals can explain it better, but the borrowed money itself means nothing to your tax liability (or shouldn't) - but as a practical matter, it will have acted like an advance on capital gain realized when you complete a subsequent sale. (ETA: In other words the rules should apply to the sale proceeds, including that refi money.)

Hope this helps.