By Elizabeth Weintraub, About.com Guide
Congress will consider eliminating the tax exclusion on home selling profits, and the tax break for home selling may disappear.
© Big Stock PhotoI predict that the government will try to change the home sale tax exclusion in 2009, disallowing the free money that up to now sellers have been able to pull out of their homes upon resale. Congress needs cash to refill the treasury depleted by bailouts and continuing military action.
Sellers should consult a CPA to determine the best way to avoid taxes upon resale.
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