Based on some discussions with others, and the following exerpt from a Fool Article I have determined that I should not be required to pay CapGains tax on the sale of my home."The key to the entire plan is that you are allowed to sell a principal residence once every two years and exclude up to $250,000 ($500,000 for a married couple) of the gain on the sale."I have lived in my home for (4) years, it is my only property, and my child would be forced to pay estate taxes if I were realize a $250,000 gain die to my massive heart attack.The real question is will I have to pay income tax on the gain and at what rate? Any info would be appreciated.
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