The Motley Fool Discussion Boards
Personal Finances / Buying or Selling a Home
|Subject: Taking equity out||Date: 10/29/2003 8:51 PM|
|Author: rbansali||Number: 60453 of 128427|
I wanted to know if this was true:
If I have a house that I bought for $40K
I take $40K out in an equity loan.
I sell the house for 100K.
Would I only be taxed on the $20K ($100K - $80K) remaining?
|Copyright 1996-2017 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|