# Cash out refinance tracking on property previously paid off **URL:** \ **Category:** Setup & Support\ **Created:** [August 1, 2021, 1:04am UTC](https://community.stessa.com/t/cash-out-refinance-tracking-on-property-previously-paid-off/3326 "2021-08-01T01:04:48Z")\ **Posts on this page:** 6\ **Page:** 1
**Author:** ![sudzinform](https://avatars.discourse-cdn.com/v4/letter/s/97f17d/32.png) [@sudzinform](https://community.stessa.com/u/sudzinform)\ **Post date:** [August 1, 2021, 1:04am UTC](https://community.stessa.com/t/cash-out-refinance-tracking-on-property-previously-paid-off/3326/1 "2021-08-01T01:04:48Z")
I have a property that was completely paid off. I recently refi and pulled cash to purchase additional and wondering how to set up so it properly tracks. I received the cash not a bank who previously held note requiring payoff. Would I process 2 transactions showing money out since the was no one to pay off or just 1 transaction showing money in for the new loan? I have a year and a half of transactions logged when there was no mortgage and want to make sure I don’t screw up the reporting and analysis data provided. Please help! Thank you ---
**Author:** ![jason.bilbrey](https://yyz2.discourse-cdn.com/flex032/user_avatar/community.stessa.com/jason.bilbrey/32/322_2.png) [@jason.bilbrey](https://community.stessa.com/u/jason.bilbrey)\ **Post date:** [September 24, 2021, 7:25pm UTC](https://community.stessa.com/t/cash-out-refinance-tracking-on-property-previously-paid-off/3326/2 "2021-09-24T19:25:43Z")
Did you ever figure this out? I have a property I just did a cash out refinance on also. I currently marked the cash out as “Owner Distribution” but not sure that’s correct… ---
**Author:** ![sudzinform](https://avatars.discourse-cdn.com/v4/letter/s/97f17d/32.png) [@sudzinform](https://community.stessa.com/u/sudzinform)\ **Post date:** [September 26, 2021, 10:33pm UTC](https://community.stessa.com/t/cash-out-refinance-tracking-on-property-previously-paid-off/3326/3 "2021-09-26T22:33:02Z")
No I didn’t and have received guidance so not sure I have documented correctly. Thinking about reviewing with my CPA by showing him software I recently started using, the options and his recommendations as how to log. If you figure it out, please let me know ---
**Author:** ![devin](https://yyz2.discourse-cdn.com/flex032/user_avatar/community.stessa.com/devin/32/8_2.png) [@devin](https://community.stessa.com/u/devin)\ **Post date:** [October 1, 2021, 8:04pm UTC](https://community.stessa.com/t/cash-out-refinance-tracking-on-property-previously-paid-off/3326/4 "2021-10-01T20:04:02Z")
@sudzinform @jason.bilbrey So, a couple points that you may find helpful… 1. Definitely talk with a CPA about how to handle this from a tax/accounting perspective. We do not provide tax, legal, accounting, or investment advice. 2. “Proceeds & Payoffs” may be the best category for refinance activity. Here’s the relevant help article with some detailed options for handling scenarios like this: _**[Track Purchases, Sales, and Refinances | Stessa Help Center](https://support.stessa.com/en/articles/5121179-track-purchases-sales-and-refinances)**_ ---
**Author:** ![sudzinform](https://avatars.discourse-cdn.com/v4/letter/s/97f17d/32.png) [@sudzinform](https://community.stessa.com/u/sudzinform)\ **Post date:** [October 1, 2021, 11:35pm UTC](https://community.stessa.com/t/cash-out-refinance-tracking-on-property-previously-paid-off/3326/5 "2021-10-01T23:35:36Z")
Devin, Yes, thank you. I will definitely review and provide proper docs to CPA but also appreciate the recommendation of the article below. Thanks again ---
**Author:** ![lashanw](https://avatars.discourse-cdn.com/v4/letter/l/87869e/32.png) [@lashanw](https://community.stessa.com/u/lashanw)\ **Post date:** [February 20, 2022, 2:41am UTC](https://community.stessa.com/t/cash-out-refinance-tracking-on-property-previously-paid-off/3326/6 "2022-02-20T02:41:25Z")
I have a similar situation and would like some guidance on category and money in vs out when doing a cash out refi. Based on the example below, how to account for the check that gets paid out to me? Thanks New loan amount $100k - category proceeds and payouts, money in Closing costs $2k - category closing costs, money out Pay off old loan $80k - category proceeds and payouts, money out Cash paid to me - category proceeds and payouts??, money in or money out?