05-22-2007, 03:21 PM
Did you own a house before buying this one, and roll any of the value of that house into the purchase of the current one? Have you kept careful track of every penny you've spent on the house for capital improvements since you bought it? Here's article from bankrate that might give you some additional things to consider. It's a four-page article, and I tried to give you a link to page 3. Scroll toward the bottom until you get to the section called "Figuring the correct exclusion amount".
http://www.bankrate.com/brm/news/real-es...1018a3.asp
I don't think it's possible to do what you suggest legally. However, talking to an attorney might reveal some other options.
http://www.bankrate.com/brm/news/real-es...1018a3.asp
I don't think it's possible to do what you suggest legally. However, talking to an attorney might reveal some other options.