I want to buy a new house, but I'm afraid I won't be able to sell my current house before closing. If I use other funds for my down payment, will the tax implications be different on the proceeds from the sale of my house if I'm not using it towards my new house, but rather paying myself back?
Also, assuming my house doesn't sell for awhile, and I'm paying two mortgages and two property taxes, can I take the usual deductions from both places?
I hope my questions are clear.
2006-11-09
22:38:35
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2 answers
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asked by
Brooke22365
4
in
United States