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 exemption. But can I avoid tax on my remaining $330,000 profit by using the sales proceeds to buy a replacement home? – Kat C. more...
