Well it's a 15 percent federal tax, those who live in New York City, you do have New York State and city taxes which add up to another 11, 12 percent on top of that.
More Quotes from David Sands:
It's certainly an income generator for the government.David Sands
For a 'married filing-jointly' couple, who've lived in the home two out of the last five years, the exclusion from gain would be about 500,000. For those who are single, 250,000.
David Sands
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