By Linda Stern
Newsweek June 20 issue
Making money in this red-hot real-estate market has been easy. What's taxing is figuring out how much you owe Uncle Sam when you sell your house. Many home sellers this spring are racking up big gains, but they aren't sure what to do with them. Here's what you need to know: GIVE YOURSELF A BREAK. If you've lived in your home for two of the five years leading up to your sale, you can exclude from taxes up to $250,000 of gain on the home. Double that to $500,000 if you're. . . full story here.
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