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Get your taxes done using TurboTax
As a follow-up to the earlier comment, any funds paid in advance to reduce your overall payment during the home is called an investment. It will have nothing to do with the taxation of your previous home, especially if your combined net gain is under $500,000, if filing as Married Filing Joint and having lived in that home for at least 2 out of the last 5 years, which will exclude any amount you received from taxation.
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‎July 27, 2022
3:06 PM