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Oct 28, 2021
JAGA97 Truly Addicted User
Yep. Crazy how many people think their capital gains on the sell of real estate
will be reduced because they took out a loan.

Just yesterday a guy couldn't grasp the concept.

He bought the house for $100,000. Refinanced it and took out $100,000. Sold it for $200,000. Doesn't believe me that he has to pay gain on the $100,000 of profit when he owes the bank $200,000.

I was an investment property.
This message has been modified
Originally posted on Oct 28, 2021 at 11:17:27am
Message modified by JAGA97 on Oct 28, 2021 at 11:17:58am
Message modified by JAGA97 on Oct 28, 2021 at 11:18:21am
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Apr 10, 2008
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