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Originally Posted by Phoenix
wont you also get hit with the capital gains?
like you bought on paper for 75k and now it is worth 400 so you pay taxes on 325k
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Ding Ding Ding...
If your buying this, you better be damn sure the FULL price is on the contract so that you don't get fucked by the capital gains. If that guy wants to try and cheat the taxes its on him.
But this sounds way to shady to me.