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agball · 03-20-2006, 07:05 PM

This Relates to my Mother-in-law! She owns a home which she uses as a rental, not is her primary residence. She Fully owns the home which she inhereted from her parents (no mortgage). I know the tax laws say that you have to live in the home for two years before you are intitled not to pay capital gains tax (250,000) max if you live there 2 years. She is Handicapped for over 30 years and is over age 65 and wants to sell the renal home she owns.

Now My Question:

Is there any Exemtions she might have, to get around the gains tax? she does not want to live in the home for 2 years before selling

03-20-2006, 07:05 PM	#1 (permalink)
agball Insane Location: Long Island	Capital Gains Tax This Relates to my Mother-in-law! She owns a home which she uses as a rental, not is her primary residence. She Fully owns the home which she inhereted from her parents (no mortgage). I know the tax laws say that you have to live in the home for two years before you are intitled not to pay capital gains tax (250,000) max if you live there 2 years. She is Handicapped for over 30 years and is over age 65 and wants to sell the renal home she owns. Now My Question: Is there any Exemtions she might have, to get around the gains tax? she does not want to live in the home for 2 years before selling __________________ "A friend with weed is a friend indeed"