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Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121564  
Subject: Re: Saving for down payment on a house Date: 7/14/1999 9:42 PM
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[[3) How do I sell my current house and by a new one
while minimizing my tax liability?

This is my second sale of a home so I do not get the tax break for the first time
sale of a home.]]

Huh??? I'm not sure that I understand what you are trying to say. You may be a bit confused. The "first time" has to do with home PURCHASE...not sale. The exclusion for the gain on the sale of a personal residence is an entirely new and separate issue. And you can exclude such gain once every two years.

You can read more about these issues in the Taxes FAQ area, and my multi-part post on this very issue. You really should check it out.

TMF Taxes
Roy

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