Updated over 9 years ago on . Most recent reply
Refinancing to Pull Equity, Tax Deduction - owner occupy?
Hey everyone!
I am looking to pull some equity out of my current residence so that I could have some capital to invest with. I believe that there is some type of form where if you are an owner occupying individual during a refinance and if you pull equity out of your home, you can avoid paying capital gains tax. Is this true? I believe you can do a 1031 exchange for your investments, but does that also apply to my owner occupied house? Is there another tax exception that I do not have to abide by the 365 day clause?