Journey screenprint by JC Richards

[Dan]

Originally Posted by blingaling

Again, not true in the slightest.

dude...

http://en.wikipedia.org/wiki/Capital..._United_States


Primary residence

Percent of personal income from capital gains and dividends for different income groups (2006).




Under 26 U.S.C. §121[20] an individual can exclude, from his or her gross income, up to $250,000 ($500,000 for a married couple filing jointly) of capital gains on the sale of real property if the owner used it as primary residence for two of the five years before the date of sale. The two years of residency do not have to be continuous. An individual may meet the ownership and use tests during different 2-year periods. Both tests must be satisfied during the 5-year period ending on the date of the sale