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If it's your primary residence, no Capital Gains tax applicable.
Capital gains means increase in realized value since you bought it.
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Apr 1st, 2005 06:05 PM #1Deal Addict
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Selling a residence
Hello all,
Is selling a residence considered as an income (hence taxable)? I know that if that's your residence, then you don't pay the capital gain tax, but is the profit/selling price considered as income?
Thanks all.
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Apr 1st, 2005 07:31 PM #2Sr. Member
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