On Jan 2, 2009, at 1:42 PM, Dan wrote:

> Well, both of you are right, but if the gain that can be written off
> is only $500,000, how do you know if you exceeded that if you never
> kept track of it?

One big clue would be if you sell the house for less than $500,000  
more than you paid for it, which is what the vast majority of people  
in the US do.

-Trish


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