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Ilyce Glink: The State of Real Estate Today

The Long View

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The Importance of Accounting for Your Capital Gains

If you have lived in your house for two of the past five years, you're entitled to keep up to a quarter of a million dollars in profits tax-free. Anything over that, and that's going to be subject to capital gains tax. There are some ways to ameliorate that a little bit by reducing your overall profit with your cost basis.

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