Monday, September 12, 2005

Pay attention to tax rules on real-estate gains

slightly different interpretation.

"Q: I may be applying to business graduate school for entry in fall 2006. Assuming I get into school and need to move, can I sell my condo and be exempt from any tax on the gain? I will not have lived there two years but heard that graduate school may be a valid reason for the sale to be tax exempt.

A: "Graduate school is not expressly stated as one of the hardship exclusions to IRS Code 121," Davis said.
"

uh, what if i had to leave work to go to grad school? that isnt a change in "employment"?

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