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Financial Planning / Tax Strategies


Subject:  Re: $500,000 Home Sale Exclusion Date:  5/6/2004  1:45 PM
Author:  vandolsen Number:  71753 of 127989

Other taxes:
In California, it would reset your tax base. Increasing real estate taxes starting at $5,000 a year.

State income tax? Federal allows the exemption, but does your state?

Had a related conversation with my tax guy a few weeks back. California follows the Fed on this one.

Nice theoretical argument, but I would not go there for all of the reasons cited in the thread.

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