How to Avoid Capital Gains Taxes (Legally) on Your Home Sale
Money Girl
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The $500,000 Exclusion on the Home Sale, Capital Gains Exclusion
The IRS wasn't always so generous with this tax benefit. The home sale, capital gains exclusion used to apply only if you bought a more expensive home within two years of selling your old one. You could only claim the exclusion one time in your life and it could only be up to $125,000 for those 55 or older.
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