|
Unconstitutional Patriot
Join Date: Apr 2000
Location: volunteer state
Posts: 5,620
|
I think you would need to pull the equity out at least 9-12 months after purchase. Otherwise, this may be construed as boot by the IRS.
What do you plan to do with the rest of the money from sale of commerical property, though? Any elimination of debt or cash in pocket is taxable.
|