by ASwift1 on July 9th, 2005

ASwift1

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I moved into my condo in April 2004 The condo was a rental property purchased in 1995. I am building a new house and plan to sell the condo in September 2005. Is there any way I can avoid capital gains taxes on the transaction?

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  • by Thriftymaid on August 24th, 2010

    Thriftymaid

    Look on IRS.gov and get the pamphlet on selling and buying homes. I think I remember there being one. If not, just go to the 1040 instructions and it gives a clear concise explanation about capital gains relative to your personal residence.

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