Agent

Capital gains cause strife for long-term homeowner

Buying a replacement home won't cut tax on home sale
Published on Oct 28, 2004

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by CareyBot

DEAR BOB: I bought my home for $20,000 in 1965. Amazing, huh? I am told by a real estate agent it is worth $600,000 today. He said I can deduct my $20,000 cost, plus a single-owner home sale, $250,000 tax ...

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