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Old 09-28-2005, 07:27 AM
eliminatemortgages
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Default Income Tax Liability Scenario

What would be the best tax liability scenario be if a property is bought for $20,000.

Refi and hold. any tax liability for the mortgage difference and purchase price.

Sell for $60,000 no money down, hold the note, and /or sell the note.

What would be the long term tax liability or the short term tax liability?

Any other scenarios would be appreciated.

Thanks

Patrick M


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