05-22-2007, 02:58 PM
Let's say your house has appreciated close to the $500K married writeoff limit (I think capital gains when living 2 out of 5 years, or something like that).
Can you sell the house to yourself (or spouse) and restart the appreciation limit? Exactly what defines a home sale?
Has anyone else thought of this? And avoided fines and/or jail?
I tried to look up the subject but got way too many hits about FSBO stuff...
Can you sell the house to yourself (or spouse) and restart the appreciation limit? Exactly what defines a home sale?
Has anyone else thought of this? And avoided fines and/or jail?
I tried to look up the subject but got way too many hits about FSBO stuff...