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September 24, 2010 at 10:57 AM #609505
lepetitangel
Participant

Thanks guys.

I’m talking about tax I have to pay when I sell the property, not property tax.

I’m just afraid that if we refi at $260K our cost basis will turn into $260K. But I think it’s right that it depends on your purchase price ($400K) but not the refi price ($340K).

thanks.
lepetitangel