Quote:
Originally Posted by MightyDog
The 500K profit, before paying cap gain taxes, is for married, filing jointly. For single people, the threshold is 250K profit before the cap gains taxes occur.
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Oh, dear... I ASSumed they the sale/purchase was from a couple, like the majority of Villages purchases (73%)...
Regardless, unless they sold for DOUBLE the price they initially bought, they won't pay capital gains... And I find that is unlikely...