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Pastimes : Let's Talk About Our Feelings!!!
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To: Lizzie Tudor who wrote (72474)1/17/2000 8:34:00 PM
From: Constant Reader  Read Replies (1) of 108807
 
You are wrong. Consult the tax code. Gain on sale from a home is taxable as a capital gain. It may be deferred by buying a more expensive home. Ultimately, the tax comes due, although there are allowances. For some strange reason, I think you will not appreciate that those allowances are for people over a certain age. Look it up for yourself.
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