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by CareyBot

Editor's note: Robert Bruss passed away on Sept. 26, 2007. This was one of the last real estate columns he wrote. Inman News is publishing Bob's last work as a final salute to the nation's most well-known real estate writer. DEAR BOB: How can I sell my vacation home without paying capital gains tax? --Kristie H. DEAR KRISTIE: The only easy way to avoid tax on the sale of a vacation home is to sell it at a loss. Just joking! Purchase Bob Bruss reports online. Frankly, there is no way to sell a second or vacation home without paying capital gains tax. It is clearly not eligible for the Internal Revenue Code 121 principal-residence-sale exclusion up to $250,000 (up to $500,000 for a qualified married couple) because it was not your principal residence at least 24 of the last 60 m...