Unfortunately I don't believe this is correct, unless I am missing something.I just chatted with the California Tax Board on their Website and this is a paste o...

Thank you for your time and making things clear.Yes, that is how I now understand it.Very appreciative of your expertise.

Thank you CalCountry for the thorough and detailed answer.That was very helpful.So from what I read is that the gain made on the sale of the personal residence ...