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What you are referring to is capital gains tax. And yes, usually two or three years is the marker but it is only at a certain cap. I believe in your state it is up $250,000.00 capital gains if you have lived in the home as your primary residence for two of the past 5 years.

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A salesperson is involved in a transaction where an individual wishes a six-month lease with an option to buy. What is true about this situation? A. The individual must go to an attorney since it is too complicated a transaction for a salesperson. B. This transaction is too complicated for a salesperson.

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