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Old 03-24-2018, 05:50 PM
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Nucky Nucky is offline
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Originally Posted by BK001 View Post
As far as I know, since the Taxpayer Relief Act of 1997, you no longer need to buy another home to avoid the capital gains tax. Each person is eligible to exclude $250,000 ($500,000 for a couple) of profit from the capital gains tax.

Regardless I agree with you that many of us sold our homes and had ample cash to buy a home outright here in TV.
I believe that's after owning the home as your primary residence for two years. A small technicality.