by MaryHPL on February 24th, 2006

MaryHPL

Question

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My mother lost her house in Hurricane Katrina and has decided to rent, but she was told she has to pay capital gains tax on the insurance payment on her house. Why can she not claim the capital gains exemption on her residence?

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You're reading My mother lost her house in Hurricane Katrina and has decided to rent, but she was told she has to pay capital gains tax on the insurance payment on her house. Why can she not claim the capital gains exemption on her residence?

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