$250,000 capital gain per spouse is not taxable.  

Here’s what to know.State Equalized Value versus Taxable ValueBack in 1994 Michigan passed the Headlee Amendment:(http://www.legislature.mi.gov/(S(k5m2va1uyfgwtbyjf4nqb1bx))/mileg.aspx?

Fourth: even if the entire deduction is available, it results in much smaller automobile deductions in future years and extra taxable income when you sell the vehicle or trade it in.

Reporting these expenses on your personal tax return (likely Schedule C for a sole proprietor) could result in a net loss that might offset other taxable income, reducing your overall tax liability.

If the improvements were recognized as taxable property before, you might be able to keep the property taxes and depreciation setup.

If it isn’t repaid, it can be treated as a taxable distribution, which adds to the risk.

In my software, the checkbox is called "completely taxable disposition."

Accelerated depreciation, taxable income forecasts, and running various numbers/scenarios.Point is that tax planning/financial planning is not the area to skimp.   

Plus it creates a taxable event and gives the bank the right to enforce the due on sale clause if they want to, because title changes hands again. 

Any money you touch would be taxable.