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Politics : Formerly About Advanced Micro Devices

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To: American Spirit who wrote (181698)	1/27/2004 4:25:32 PM
From: Jim McMannis	Read Replies (2) of 1575514

RE:"Clinton raised taxes and gave us seven years of prosperity including surpluses" Oh brother. The last "recession" started under Clinton. Check your dates. Clinton just raied taxes? Humm...NOT ExACTLY.. realestatelawyers.com "The law exempts from taxation profits on the sale of a personal residence of up to $500,000 for married couples filing jointly and $250,000 for singles. To qualify, sellers must have owned and used the home as their principal residence for at least two of the last five years before the sale. Effective for sales after May 6, 1997, this new provision replaces the prior rollover provision on home sales and the $125,000 exclusion of gain for those 55 and over. There was no change in the rule that prohibits taxpayers from deducting losses on home sales.'

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