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Financial Planning / Tax Strategies


Subject:  Re: Capital Gaines on sale of house Date:  10/9/2001  1:47 PM
Author:  jailleres Number:  54481 of 127745

"I wonder about the capital gains taxes that may be due"

If you have lived in the house for 2 out of 5 years, you won't owe capital gains taxes on the first $250,000 of gain (married filing jointly). This does not negate the other reply that discussed the potential gift situation - that could still be an issue.
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