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Example Kelly Vargas, a single person, sold her main home on September 15, 2014. She had owned and lived in it as her main home for seven years. Selling expenses that Kelly can subtract from the selling price of her home include the broker's commission, title insurance or abstract fees, legal fees, recording fees, advertising, escrow fees, geological surveys, and interest reimbursed on money borrowed for an option to purchase. Kelly computed her gain as shown below. Since her gain is less than $250,000, she will not be taxed on the sale.
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