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Other financial discussions
@millere201 wrote:
....if I reinvest into another home, will I have to still pay capitol gains...
Reinvesting in another home will have absolutely no impact on any capital gains tax that may be due as a result of the sale of your current home. That rule was eliminated over 20 years ago and is no longer in effect.
However, you may qualify for a partial exclusion since your move was work-related.
See https://www.irs.gov/publications/p523#en_US_2020_publink100073097
You can calculate your partial exclusion by completing the worksheet at the IRS web site (link below).
https://www.irs.gov/publications/p523#en_US_2020_publink100073100
‎September 20, 2021
7:47 AM