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KASS: Circumstances may permit tax exemption (access required)

DEAR BENNY: For personal reasons, my wife and I sold our house about 15 months after we bought it. We were fortunate to have made a good profit, but now want to find out if we have to pay capital gains tax. – Sheldon DEAR SHELDON: The answer: It depends. In 1997, Congress authorized the up-to-$500,000 exclusion ...

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