Quote:
Originally posted by dtb
So, is there any way to avoid capital gains taxes on the sale of a non-primary residence? I have heard that the answer is a big fat no, however, I'm hopeful that one of my learned (no, no Pepe, it's pronounced "luuuuhrned") colleagues from the FB (Hey! Stop laughing!) will find a handy-dandy loophole from this, the cruelest cut of all.
Taxes suck.
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I think no, but if you think about the exclusion for the primary residence as kind of a big fat tax break, maybe it will hurt less having to pay the taxes on fun/investment property.
ETA and consider yourself lucky to be HAVING capital gains instead of just barely being able to get enough to pay off your outstanding mortgage.
ETA2 not that I'm bitter or experiencing this right now or anything.
