Forum Discussion
ol__yeller
Mar 20, 2016Explorer II
Capital Gains taxes have been modified for many years now. There is an amount that is tax exempt and then after that benchmark is reached then Capital Gains applies. Not sure, but I think it is like $250,000 an individual and $500K for a couple. A tax advisor can tell you the amounts. One doesn't necessarily have to reinvest home sale profits in a new home to avoid Capital Gains Tax.
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