Joni

Asked about “Ask the Dolans: Dolans.com”

Reinvesting Home Equity

We are two seniors (59 and 61) who will marry soon. We each have $100,000. equity in our homes and only one $30,000 mortgage. We plan to sell and buy "our" home and upgrade to the home of our dreams. Do we have to report the equity of our old homes on taxes even though 100% will be reinvested in the purchase price of our new home? Thanks, Joni

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Posted 2009-10-02T18:06:25Z
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