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Updated about 7 years ago,
Personal Residence & Capital Gains on tax bill (2018)
I was wondering if there was a CPA out there that could clarify on the new tax bill that was recently passed. Is there any exclusions that have been added to the capital gains portion for personal residence. My personal situation is this... I purchased the home in DEC of 2015, and I just put it on the market. It now has a pending sale, however it's not going to close until 10 Jan. 2018. Am I going to have to pay capital gains taxes on this property?
Thanks for your help.