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Updated over 5 years ago, 05/01/2019

User Stats

6
Posts
7
Votes
Filak Thomas
  • Real Estate Agent
  • Miami, FL
7
Votes |
6
Posts

Need a help with capital gain

Filak Thomas
  • Real Estate Agent
  • Miami, FL
Posted

I have a little house under contract for $ 155k

I bought last year, fixed it and decided to sell

After sell I will need to buy something else in order to avoid paying tax

Also I have a condo and hard money loan

I paid for it $100k and $150 hard money

Can I pay off my hard money loan with house money and avoid paying capital gain tax ?????

I know if you sell property ( you don’t own longer than 2 years) and buy house which is more expensive you don’t need to pay

How about my situation ???

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