Posted by dewCO on September 15, 2000 at 24:10:03:
I believe the current tax law is, it has to be your personal residence for 2 of the last 5 years, then a single peson can make up to $250,000 each time and a couple $500,000. So take 2 years and right now you’re OK.
Help!! Capital Gains Tax - Posted by Michael
Posted by Michael on September 14, 2000 at 19:07:20:
I am in the construction business and three years ago purchased my first home. I fixed it up and I am about to sell it for a $35,000 profit. My plan is to build and sell a home every year which i plan to live in. My question is how to prolong my capital gains tax. Any help would greatly be appreciated. Thank you.