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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (266665)	12/31/2005 1:55:45 AM
From: tejek	Read Replies (2) \| Respond to of 1577910

They go up in price three-four fold in 5-6 years. Well over $500k unrealized gain in each. He sells the one in NYC...pockets $500k tax free plus whatever. Moves into the one in cape cod for 2 years...sells that one for a $1M gain...half of which is tax free. Moves on to FL. Stays 2 years. Sells for a nifty gain, $500K of whch is TAX free. In all...he bags $1.5M tax free plus whatever on top. I love your hypothetical......now give me a link to the real thing.

To: Jim McMannis who wrote (266665)	12/31/2005 7:44:55 AM
From: Taro	Respond to of 1577910

Here is how I see it: 1. Home sale capital gains tax free as long as all is reinvested in a new home within a max of say 2 years. No cap. 2. Mortgage interest is fully deductible All of the capital gain not reinvested within 2 years is taxed. All of the above for one home only. Anything wrong with this? Taro