I'm chuckling to myself as I post this on a stripper board...but sometimes I think I get the best advice here!
I'm refinancing my house and cashing out 35K in equity to put into an investment property. Do I have to pay capital gains on that 35K? I read somewhere that if you invest it in another property within a certain amount of time you don't.
But it got me thinking about all those commercials for Ditech.com Suppose I "cashed out equity to pay off higher interest consumer debt", and didn't re-invest it in another property...would I have to pay taxes come April?




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