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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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September 30, 2004

The Real Estate Adviser: Capital gains rules still perplex many

By TOM KELLY
Special to the Journal

It's been more than seven years since a slicker, reusable model replaced the one-time capital gains exclusion on the sale of one's principal residence, yet the "new" law still perplexes many older home sellers. In fact, the topic could be listed at the top of any "don't get" category.

For example, two callers to a recent radio talk show asked if they could "roll some of profit" from the sale of their primary residence into their new home, thereby avoid paying capital gains tax on the profit.


 
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