How do I avoid paying capital gains tax on the sale of my residence? I have owned the home for 20 years. It is worth a heck lot more than what I paid for it!
by 
canazz
ANSWERS: 1
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You need to contact a CPA and possibly a tax attorney for this answer. I do know that the Republicans have lowered the capital gains tax. You can avoid some taxes by reinvesting in another property but there is a time limit in which you can do this. Definitely call your CPA - he/she will know the lastest laws on capital gains tax.
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