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Author: irasmilo 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 121106  
Subject: Re: Capital Gains Tax Date: 8/14/2001 10:36 PM
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me:

This election does not apply to your personal residence in the opinion of some of the more respected contributors to these boards.

bob78164:

To be more precise, the election is available with respect to your personal residence, but it's almost certainly a really bad idea because every penny of gain would be immediately taxable and not a cent would be subject to the $250,000/$500,000 exclusion usually available for a normal sale. --Bob

me:

Thanks for the correction. I remembered it was your idea, but I couldn't remember the specifics.

Ira

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