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Reply to "We sold a house in 2006. Is there any reason why we should still keep all the paperwork?"
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[quote=Anonymous]If you are married and sell your primary residence you can deduct $500K in capital gains regardless of whether you rolled a previous property into it or not. This is probably what you are talking about. The only "rolling properties" together thing is for rental properties and investment properties. This is called a 1031 exchange. You can't do this for your personal residence.[/quote]
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