We are considering selling our house that we have owned for less than 2 years, so we don't automatically qualify for the capital gains exemption. If we roll the gains from the sale of our house into the purchase of another house, do we still have to pay capital gains tax? Specifically, if our net gain is $50k and we applied that to the down payment of our next property, do we still pay capital gains tax? If not, is there any other way to avoid capital gains tax?
2006-09-19
17:29:39
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10 answers
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asked by
rqklamser
2
in
Renting & Real Estate