by Fredh46 on April 12th, 2007

Fredh46

Question

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My 82 year old mother sold her home of 42 years for $622,000. The purchase price of the home in 1965 was $27,000. She paid $192,000 cash for a new home. Her only income has been social security. What would capital gains tax be, approxiamtely?

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You're reading My 82 year old mother sold her home of 42 years for $622,000. The purchase price of the home in 1965 was $27,000. She paid $192,000 cash for a new home. Her only income has been social security. What would capital gains tax be, approxiamtely?

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