Real Estate Capital Gains
The conditions: I have owned a primary Residence in Atlanta since May of 1987. I paid $ 72K for it. I have spent 30K in improvements. In August of 2002, I was offered a promotion to Oklahoma City, OK, and moved into an Apartment. I decided to rent the property, in order to keep some holdings in Real Estate (and holdings in my 401K). I did not care for the Rental business, even with a Property Management Co. It was stressful, and time-consuming. As well as, a Loss. On August 26th, 2005, I will have been out of the house 3 years. And, living in a Apartment in Oklahoma City. Currently, I am able to sell the Property before the 3 year mark, at 20K below value, in order to avoid the Tax. At 150K (the value is 170K). Question. Do I have any other options ? Thanks in advance, Mike in OKC

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