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Cameron and LasVegasFool

I said:

<< On the sale of the house there will tax issues involved. Her basis is probably quite small, meaning at least 20% of the gain will go to the tax man. >>

You both correctly pointed out I was asleep at the switch. I've been sitting here puzzling over why I said something so incorrect, particularly since I am thoroughly conversant with the old and the new rules regarding the sale of a principal residence. In this case, there is no tax impact. Doesn't change the rationale of my response any, but it sure colors me red. Quite honestly, I don' know what urchin made me say that. Blame it on my faulty monitor.

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