overtrading question

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Posted by Bob on April 09, 2004 at 08:23:44:

Mr. Behle used an example of selling 1 million in performing mortgages to a bank (purchased at 80% of face or less) at par in return for buying $200k in real estate from them at par. Question: isn't that $200k a taxable realized gain, so after you tax you can't actually buy $200k in property? How can you mitigate the tax hit?

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