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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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May 11, 2006

The Real Estate Adviser: Don't expect an increase in home sale exclusion

By TOM KELLY
Special to the Journal

On a recent call-in radio program focusing on capital-gains taxes, “Ruth from Seattle'' asked about increasing the exclusion on the sale of a primary residence.

“We paid about $100,000 for this place nearly 35 years ago and the Realtors are now telling me it's worth $825,000,'' said Ruth, a widow. “If I sell it, I will have to pay capital gains on $475,000. Is there any chance the exclusion will be raised?”


 
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