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Old 04-12-2011, 02:36 PM
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2nd home

My sister bought a house in 2002 and lived there for 5 months. She then bought another house moved and paid off the 1st house in 2003. My parents moved into her first house and lived there until 2010 for free. My sister sold the house and has a 50k capital gain. Is there anyting she can do to reduce the gain? Can we use the Non qualified use option. Remember she only lived in the house for 5 months and then kept it for 7ish years so my parents could live there.



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