"Kurt Ullman" wrote in message
...
In article ,
"Dimitrios Paskoudniakis" wrote:

In the USA, there is no tax on the increased value of the home when you
sell
up to US $500,000 more than the purchase price. Also, you can subtract
from
your sales value all costs to improve your home during ownership. If you
invest US $100,000 to improve your home, you can sell it for up to US
$600,000 more than the purchase price without incurring tax on the gain.
If
you still sell for more, you only pay tax on the excess. Pretty hard to
do,
especially in this market, except for a tiny fraction of extremely
high-priced homes.

There is no tax on the increase as long as you take the money and
reinvest in another home within a certain period of time. You only owe
taxes if you decide not to reinvest in another single family home within
that time frame AND the total profits from first home to last don't go
over the $500,000, a little easier to do, but not much.

WRONG. That law was replaced with the $500K limit with no requirement to
buy another house about 10 years ago or so.