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Parker2300
Commercial Realtor
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Tax Information
Friday, January 26 2007 02:56 PM
I need information on capital gains tax. I am wanting to move because of work but still within the two years of owning my home. I heard that I won't have to pay the whole gains. Please fax me information to (309) 692-7534. Thanks
--Brad
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Randy Hughes
Master Advisor-39 years of experience
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Re:Tax Information
Friday, January 26 2007 03:47 PM
Brad,
Hopefully you will fall within one of the exceptions to the IRS code 121 that deals with the two year rule. This is a complex subject and is explained in detail in our booklet, "Get Rich Saving Money on Your Taxes." If you do not already have the booklet, you can purchase it on this website at Shop Online (see the left hand side bar). Let me know if you need any help.
Randy Hughes
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