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Updated over 5 years ago, 05/01/2019
Need a help with capital gain
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 ???