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Subject:
Item Title:
Avoiding Tax on Vacation Home Sales
Summary:
INACTIVE -LAW CHANGE
As you know,
the home sale rules are much more generous than they used to be. If certain requirements are met, you can exclude up to $250,000 of gain from the sale of a principal residence ($500,000 for married couples filing jointly). Unfortunately, vacation homes don't qualify. But here are two ways to avoid tax on the gain of your second residence - plus details on a special tax break for vacation homeowners and the tax rules for timeshares.
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