MCWinters
Level 3
03-08-2020
03:22 PM
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Wait,
I think I may have found a way around this being taxable by going back to the original HUD1s. The Taxpayer paid an initial $5,000 deposit on the property the new property. Wouldn't this $1,600 being a non taxable event because the amount returned is less than what they put down out of pocket for the property.