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Is long term capital gain treatment allowed if the investor holds property more than one year?

Is long term capital gain treatment allowed if the investors holds property for more than one year?
Can a homeowner refinance and pull out $99K in cash, spend the money as we see fit and still deduct the interest as home loan interest?
  • May 24 2009 - Scottsdale
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Answers (1)

Profile picture for real estate mike
Isn't that the definition of a long term gain? Holding an asset for more than one year? Should consult a c.p.a. on this one for sure. On the second part same advice. So you're taking out an equity line? So wouldn't that interest be a business expense also?
  • May 24 2009
  • 0Yes

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