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18 July, 23:44

Do you have to pay capital gains when you sell your house

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  1. 19 July, 01:45
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    If you owned and lived in the place for two of the five years before the sale, then up to $250,000 of profit is tax - free. If you are married and file a joint return, the tax - free amount doubles to $500,000. The law lets you "exclude" this much otherwise taxable profit from your taxable income.
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