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02-03-2010, 10:39 AM #1
Renter
- Join Date
- Feb 2010
- Posts
- 1
Capital gains
I own a house in PA. One of my friends told me that capital gains from selling a house are tax free, as long as you hold the property for atleast 2 years.
Is it true?
Thank you!
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that types of query send a free legal advisor sites as a Hg, Legal service or Law Firm India lawyers Directory helplinelaw and you are not mentioned of which country and city location property.
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02-04-2010, 06:08 AM #3
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,282
Your friend is wrong about the 2 years. You have to live in the house for 5 years and there is a limit on the amount of capital gains saved.
Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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