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Not a CPA, but I believe the tax break is if you own the property for 5 years and call it your primary residence for at least two. Then the first $500K (married) or $250K (single) profit is not taxed. Not familiar with what happens in an inheritance type situation, though.
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1987 Venetian Blue (looks like grey) 930 Coupe
1990 Black 964 C2 Targa
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