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And to add another wrinkle, the exclusion is doubled to $500K if married.
And don't forget the once a lifetime exclusion of an unlimited profit on a primary residence. IIRC thats still in place.
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Jim
1987 Carrera
2002 BMW 525ti
1997 Buell Cyclone cafe project
1998 Buell S1W: "Angriest motorcycle I've ever ridden."
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