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Subject:  Re: My Mom's Retirement Date:  6/9/2004  11:56 AM
Author:  Matt1344 Number:  41172 of 88772

"This really depends in large part on her goals. Let's say she scores $90k for her home so her profit is $38k. (I did not notice if this included capital gain tax but this would be moot I believe if she is investing in another home short term)"

I believe that as a single person she is entitled to a $250K profit free from income tax whether or not she buys another home provided she has owned the house for 5(?) years and lived in the home the required amount of time, 2(?)years. My time numbers may be wrong but that's easy to check out. So I suspect none of her profit would be subject to tax.


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