Roger, three questions:
(1) Suppose the mortgage was paid down through past monthly payments. How does that affect the calculation of exchange rate gain or loss?
(2) Suppose the mortgage was refinance one or more times before the property sale? How does that affect the calculation?
(3) Suppose the mortgage is refinanced for more than the unpaid balance,. i.e., there was cash paid out to the borrower. How does that affect the calculation?
(4) Lastly, where is the exchange rate capital gain or loss on the payoff entered on the tax return? Schedule D?
