TaxMamas TaxQuips: Tax Quips

TaxMamas TaxQuips: Tax Quips


Profit on Vacation Home

August 15, 2011

Today TaxMama hears from Lucylle in the TaxQuips Forum, with this question. “We want to sell our vacation home in Maine and buy another. Will we have to pay capital gains tax on it even if we buy another of equal value?â€



Dear Lucylle,

Yup. T