The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Question: Taxes on Selling a Home||Date: 8/28/2001 5:28 PM|
|Author: quixx||Number: 53635 of 121765|
I bought a home in December 2000. I am now considering going to graduate school in another part of the country starting in September 2002. I could rent the place out, but I think I'd prefer to sell it. From what I've heard I think I'm subject to big taxes on the gain from the sale of the home if I sell it before December 2002.
My question is: Does relocation for eductaion purposes meet the exemption requirement? I've read that relocation for employment can expemt you from having to pay taxes on your gain, and I'm wondering if the same applies to education.
Or, if anyone knows of any other circumstances that may exempt me, I'm all ears!!
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