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    What are the tax consequences of selling a property?
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    Generally, when you sell a home for a gain, you don't have to pay a tax on the profit amount. However, if you sell a property that was not your principal residence, then you may have to report capital gains. Taxes on the gain may also apply if the home/property was not used for personal use. For example, if you run a business out of you home, the portion of the property used for the business may be subject to taxes.

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