Capital Gains and Losses

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May I ask emc011075 - Eva a question please. A house is
A house is bought for $1 milion and sold for 1.8 million by a single man. Does he get a $250,000 exemption from the capital gains of $800,000? If he then buys a house for $550,000 what is the tax consequence? What is the current capital gains rate?… read more
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