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Buying 2nd property before selling first home
Hello! I am looking to purchase a 2nd home and renting out my 1st home. If I cannot handle being a landlord and sell the 1st property AFTER buying 2nd home, will I end up paying capital gains tax since I didn't technically use the money to purchase 2nd home, or does it count that I use the money to pay down the 2nd property's loan? These properties are all within NJ. Thanks in advance!
‎October 5, 2021
7:31 PM