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Updated over 8 years ago on .
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Do i pay tax on the sale?
Hi, I am building a spec home. Its a 2 unit town home and i am going to be living in one half and selling the other half. When the sale takes place it will knock a large percentage off my build cost and i will Cary the left over balance of the loan. Will i have to pay tax on the sale even though all the money went back to the bank to pay down the balance?