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November 28, 2018 at 3:26 pm
#11260
Participant
How much equity is in the home? Wouldn’t using the 80% quick sale value help? My understanding is that when looking at the value of real estate the IRS always uses 80% of value to take into account a reduction in selling price in order to effect a quick sale. Is there still equity using 80% of the appraised value less the outstanding mortgages?