Is it true that you can take a one time exemption in your lifetime and not pay any capital gains tax on the sale of your residence?

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  I am selling my condo in NC (primary residence) for a $30K profit. I do not pass the two-year test, and I excluded a gain from a previous sale in May, 2009. However, I am selling to condo because I have taken a job in CA. Will I owe capital gains tax?
  by sonoflar on January 21st, 2009 | 1 person likes this

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  when do divorced couples no longer qualify for 500k tax deduction on capital gains on sale of real estate
  by kcovey1002@aol.com on July 29th, 2010 | 1 person likes this

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  My grandparents lived on a 115 acre farm since 1939, my grandfather passed since 1939 he passed away on Oct 2007 and Nov 2007 she went into a nursing home. If she sells the farm having lived on it 2 of the last 5 yrs will she have to pay cap
  by plowman on January 13th, 2009 | 1 person likes this

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  why pay taxes the top 1 % dont
  by chr1984 on January 15th, 2012 | 1 person likes this

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  I have lived with my husband for 10yrs, married for 1yr, not on the deed. Would we have to pay capital gains tax for singles then?
  by weezy18 on April 29th, 2010 | 1 person likes this

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