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I am 74 years old and plan on selling my home. In 2008 I…

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I am 74 years old...
I am 74 years old and plan on selling my home. In 2008 I sold property in another state and paid federal and state income tax capitol gains tax) in Colorado where I reside. My question is: Is there a law that still is effect where I would not have to pay capital gains tax again if I now sold my home? Thought there was a law that state you have one time to NOT have to pay capital gains on property. *****
Submitted: 2 years ago.Category: Real Estate Law
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6/7/2015
Real Estate Lawyer: Richard, Lawyer replied 2 years ago
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,758
Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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Hi! My name is ***** ***** I look forward to helping you!
Can you clarify your facts for me just a bit? Is the house you are selling now your principal residence? And, has it been for at least 2 years out of the preceding 5 years? Thank you!
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Customer reply replied 2 years ago
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Real Estate Lawyer: Richard, Lawyer replied 2 years ago
I will be happy to discuss this with you by phone. I will have to do that through the Additional Services option offered by JustAnswer. I'll extend that offer to you now. You should receive it shortly. I look forward to helping you.
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Richard
Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 56,758
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Experience: 32 years of experience as lawyer in Texas. I'm also a Real Estate developer.

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