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I inherited land several years ago. If I sell it, can I use the profit for a new home purchase without paying capital gains tax?

smithsussane · Posted: Mon Oct 11, 2010 10:34 pm Post subject:

Hi Pamkon!

Welcome to forums!

As far as I can understand, you'll be able to use the profit resulting from the sale of the land to purchase your new home. If you do so, you won't have to pay any capital gains tax.

Feel free to ask if you've further queries.

Sussane

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