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To: Lurkinanloomin
It may be soon be impossible to leave and take your money with you.

While I really didn't want to leave the state, selling the house last October while the value was high definitely felt great (other than the CA tax bill for capital gains). The house may continue to rise in value, but I wouldn't bet on it.

8 posted on 11/04/2019 9:58:56 AM PST by CatOwner
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To: CatOwner

“selling the house last October while the value was high definitely felt great (other than the CA tax bill for capital gains)”

Every state I have lived in if you have lived in the house 2 years or longer and then sell and if you make a huge profit there is no tax to be paid.

We sold a house 3 years ago and made over 150k and did not have to pay any taxes on it.


13 posted on 11/04/2019 10:02:54 AM PST by setter
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To: CatOwner

The California capital gains exclusion for primary residence is the same as federal tax law.

https://www.ftb.ca.gov/file/personal/income-types/income-from-the-sale-of-your-home.html


41 posted on 11/04/2019 10:28:17 AM PST by DFG
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