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To: Brian Griffin

Wow, you guys sure know a lot about taxes...

What if I sold my home in the state of Ohio for $250,000 and purchased another home in the same state for 400,000? What would be the total tax I would pay?


43 posted on 08/30/2025 10:39:57 AM PDT by unread (Next time the devil reminds you of your past, remind HIM of his future...)
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To: unread

Lots of issues that your tax preparer needs to dive into. but if it has been your main home for two out of the last five years, you get an exclusion on the capital gains of $250,000/single, and $500,000/married.

And there are a lot of extra rules that *may* apply. Talk to your tax person before the end of the year in which you sell.


46 posted on 08/30/2025 11:54:43 AM PDT by texas booster (Join FreeRepublic's Folding@Home team (Team # 36120) Cure Alzheimer's!)
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