The interview, which aired during the nightly news program on ARTN Shant, discusses how the new anticipated changes in the tax code may have an effect on the residents of California.
At the time of this interview, the period of ownership on the homeowner’s right to the exclusion of Capital Gains on the sale of a Qualified Home of up to $250,000 ($500,000 for MFJ) was proposed to be extended to 5 years (5 of last 8 years). As a result of some last-minute changes, this proposal was stricken from the consolidated bill. Therefore, the exclusion period remains at 2 years (2 of last 5 years).
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