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Updated about 5 years ago on . Most recent reply
How can I avoid taxes on selling my house?
If I have this right. I have a house I have lived in for 2 years that is worth 500,000 and I have to pay taxes on any capital gain off a property that is over 250,000. Can I Cash-Out refinance the Property to where I take out 400,000 (which i believe is non taxable) Then sell The property and count the loan as a loss so I only gained 100,000. Is that legal and allow me to not be taxed on a profit over 250,000?