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No, borrowed funds would be treated the same way a mortgage would be; it would not be considered at all. The gain is the difference between adjusted basis and sales price.
Basis is cost and if you made any improvements to the home, you can adjust the basis (increase) by the amount paid for the improvements.
No, borrowed funds would be treated the same way a mortgage would be; it would not be considered at all. The gain is the difference between adjusted basis and sales price.
Basis is cost and if you made any improvements to the home, you can adjust the basis (increase) by the amount paid for the improvements.
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