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Financial Planning / Tax Strategies


Subject:  captial gains Date:  7/19/2005  11:40 PM
Author:  ginger1236 Number:  80084 of 131380

The background info....
I bought a house in LA in 1999. I moved to TX in 2001. I owner financed the house in LA at that time. The person that "bought" the house in LA didn't make payments in a timely fashion and I recently repo'ed it and re-sold it.

If I use the money from the sale of the LA house to pay for the house I am currently in, do I still pay capital gains?

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