Thread: Capital gains on the sale of a new home?
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Old 05-21-2010, 11:14 AM   #3
Mugen910
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Default Re: Capital gains on the sale of a new home?
Quote:
Originally Posted by SSDVC View Post
If you are rolling it into another home, and that home is the same price or greater than the one you are selling, then you don't have to worry about it.

If you are never buying again, you can take a one time exemption.

If you have a tax accountant, you could take those improvements as an addition to your basis and it would probably be a wash.

Hey, I'm no expert, so please go get some expert advice. I just stayed at a Holiday Inn last night !
I need to find that Holiday Inn..
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