Re: Selling a home. Do I have to pay taxes?

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I agree with Carol. It's been so long, i'm going off the top of
my head. Single person selling real property. Up to 125,000
ggggs, no taxes. No reinvestment within 18 months, or be taxed.
Married persons up to 250,000 gggg's tax free sale. No
reinvestment time limits. Better check tho, it changes all the
time. I mean the laws and such. Good luck!

On 6/30/06, Carol wrote:
> On 6/30/06, Cristy wrote:
>> I'm selling a home that I purchased over two years ago.
>> The buying price was about $63,000 and I'm selling it for
>> about $150,000. I am not purchasing another home but
>> instead I'm giving the gains to a family member. What, if
>> any, taxes am I obligated to pay on the money I gain from
>> selling the home?
> Since this could have serious repercussions vise-a-vie the
> IRS, you should discuss this with either your accountant or
> the attorney handling the transfer. If you have neither,
> get one now.