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capital gains tax

Started by pechew
almost 19 years ago
Posts: 70
Member since: Mar 2007
Discussion about
how much is capital gains tax? How can we be exempt?
Response by anonymous
almost 19 years ago
Posts: 400
Member since: Apr 2007

15% thanks to GWB. must hold for more than a year.

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Response by anonymous
almost 19 years ago
Posts: 1
Member since: May 2007

Remember that the state also charges tax... 6.75%. If you've lived in your place 2 out of 5 years, it qualifies as a primary residence, so you can take $250K in cap gains without paying tax. If you're married and own the property jointly, you can take $500K in cap gains without tax. Definitely the way to go.

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