Not every seller qualifies for the capital gain exclusion.
Karin Price Mueller | NJMoneyHelp.com for NJ.com
Q. I purchased a co-op in New Jersey on February 2, 2022. I have been living here as my primary residence and I’m renovating the apartment. I am thinking maybe I will sell it in a few months. How would it work regarding capital gains tax and exit tax? I’m not married and there would definitely be a profit of at least $65,000.Note to readers: if you purchase something through one of our affiliate links we may earn a commission.
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