Home Buy/Sell and Taxes

From: "Jeff Salisbury" <jeff.salisbury@sdl.usu.edu>
Subject: Home Buy/Sell and Taxes
Date: Tue, 20 Oct 1998 09:22:44 -0700

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I have a question about the tax implications when selling
our home. Our company just got aquired so we are looking at
moving and taking a position in another State. The issue is
that we live in California and are considering a move to
Nevada where houses are MUCH cheaper. We want to buy a less
expensive house in Nevada. Am I going to have to pay taxes
on the gains on our California house if I do that? What if
I buy two houses in Nevada, one primary residence and one
rental? 

Another consideration, how about if I carry a 10% second on
our California Home?

Thanks for the input!

- --
Dean
dwaters@Off-Road.com



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