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ladelfina · 10-18-2005, 01:42 PM

I know!

It sounds too good to be true, but it is!! That's part of how we were able to leave the States with enough cash to buy a new place outright.

I communicated our plans to our then-tax-preparer, who replied we'd only be able to exclude $250,000.. but I said "nnnnnoooo, darling... check again.."* (this tells you something about tax preparers..)

This is just too good to turn down.. if your country house is too far from campus you could even consider moving to a smaller house in the same area for two years.. it could be well worth it, depending on your moving costs, your actual gain and your tax bracket. Then if that house appreciates, gee.. no gains taxes there either... (as far as I know).

Best of luck!!

10-18-2005, 01:42 PM	#15
ladelfina Thinks s/he gets paid by the post Join Date: Oct 2005 Posts: 2,713	I know! It sounds too good to be true, but it is!! That's part of how we were able to leave the States with enough cash to buy a new place outright. I communicated our plans to our then-tax-preparer, who replied we'd only be able to exclude $250,000.. but I said "nnnnnoooo, darling... check again.."* (this tells you something about tax preparers..) This is just too good to turn down.. if your country house is too far from campus you could even consider moving to a smaller house in the same area for two years.. it could be well worth it, depending on your moving costs, your actual gain and your tax bracket. Then if that house appreciates, gee.. no gains taxes there either... (as far as I know). Best of luck!!