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nitetrak

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nitetrak

Re: MrBankRoll post# 75

Friday, 12/22/2006 8:00:10 PM

Friday, December 22, 2006 8:00:10 PM

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Just a thought MrBankRoll...Can't you show any Capital Improvement Expenses as a deduction to offset Capital Gains Taxes? I have improved on my house for over 20 years and can show upwards of 150K of improvements; if I should sell. As far as I know the first 500k, is not taxed on sale.
If I'm wrong on this maybe someone can set me straight. I have receipts that fill up a filing cabinet...lol
nitetrak







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