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    santarosa3's Avatar
    santarosa3 Posts: 18, Reputation: 1
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    #1

    Sep 3, 2007, 02:58 PM
    What is considered capital gains
    When a rental property has been refinanced with "cash out" and the cash was used to help
    Keep the property going( payments and repairs), if it goes into foreclosure not sold
    Is this "cash out " subject to capital gains tax.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Sep 4, 2007, 09:30 AM
    Probably not, unless the cash out was well in excess of the Fair Market Value of the property at the time of the refinance.
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