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Updated over 8 years ago,
TAXES on Profits from when ......
What is the % of Taxes that you pay, if you:
1. Buy a Property and then Refinance it after the Repairs, to keep the Property as a Rental. Say once you refi. into a Conv. Loan at 80% , that there was $20,000 Left over in Equity ( Cash ) that you decided to take out ....... What % in Taxes would you pay on this $20,000 ?
2. Are you Taxed at the same % when you Flip a House VS when you Refi. the House and Take out the " Extra " cash to Spend/Invest ? Thanks so much for the help
1. Buy a Property and then Refinance it after the Repairs, to keep the Property as a Rental. Say once you refi. into a Conv. Loan at 80% , that there was $20,000 Left over in Equity ( Cash ) that you decided to take out ....... What % in Taxes would you pay on this $20,000 ?
2. Are you Taxed at the same % when you Flip a House VS when you Refi. the House and Take out the " Extra " cash to Spend/Invest ? Thanks so much for the help