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Reply #4: I heard that you can (temporarily) avoid capital gains if you
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no_hypocrisy
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Sun Dec-05-04 05:41 PM
Response to Original message |
4. I heard that you can (temporarily) avoid capital gains if you |
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Edited on Sun Dec-05-04 05:44 PM by no_hypocrisy
the entire proceeds of the sale into purchasing another house. Either that or $125,000 of the proceeds is exempt from capital gains if you purchase another house within a year of the sale of the original property.
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