Taxpayer Relief Act Of 1997 (TRA 97) at Real Estate Glossary

What is it? Enacted by the United State Congress and effective May 7, 1997, TRA 97 provides for broader exemption from capital gains taxes on the profits on the sale of a personal residence. Replaces the old provision for a one-time exemption of $125,000 for selle

Real Estate Definition Added By: Carson

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