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Capital gains tax- how long can I wait to buy a home?
How long can I wait to buy a home and avoid capital gains tax?
Asked By Darrel | Raleigh, NC | 747 views | Finance Legal Info | Created 2 years ago
Answer(3)
nkolika saintelus
J Milo Real Estate Ltd.
If you have owned and occupied your property for at least 2 of the last 5 years, you can avoid paying capital gains taxes on the first 250,0000 for Singles. Deferring Capital Gains Tax: Buying another home after selling an investment property within 180 days can defer capital gains taxes.
- 2 years ago
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Bobby Mendez
Realty Masters & Associates
45 days to identify, and 180 days to close if in a 1031 exchange.
- 2 years ago
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Cori Baumann
The Brokerage House
You will need to own the home for 2 years to avoid the Capital Gains Tax. However, sometimes improvements to the home can be deducted from this owed tax, check with your local lender!
- 2 years ago
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