Over 64 You Get Break On Home Sale
Taxpayers 65 or older may exclude all or part of gains from selling a home if they have lived there for at least five of the prior eight years. If the adjusted sale price is $20,000 or less, all gain is excludable. For higher prices, the excludable portion equals 20,000 divided by the adjusted sale price times the gain, with 50 percent of the gain taxed as a long term capital gain. The benefit is a one time opportunity.
MENTIONED IN THIS ARTICLE
Ray DE Crane
Susie Sharp Secures Democratic Nomination for Chief Justice
RALEIGH AP Susie Sharp associate justice of the state Supreme Court has been assured the Democratic nomination for chief justice. Possible contender Robert Collier of Statesville flew to Raleigh and missed the noon filing by about a minute. Bob Davis of Salisbury also failed to file for associate justice as did Sen. Robert Somers whose plane was slowed by winds. Elreta Milton Alexander of Greensboro entered the Republican race for chief justice, facing James M. Newcomb of Williamston. Wake Forest law professor James A. Webster filed as a Democrat for the vacated seat.
MENTIONED IN THIS ARTICLE
Raleigh
Susie Sharp
State Supreme Court
High Court
Superior Court
Robert Collier
Statesville
Bob Davis
Salisbury
Collier
Robert Somers
The
Supreme Court
Elreta Milton Alexander
Greensboro
James M. Newcomb
Williamston
Alexander
Wake Forest University
James A. Webster
Winston Salem
Justice Sharp
Nixon urges GOP to run on peace and prosperity
President Nixon urged nervous Republicans to center campaigns on peace and prosperity as Watergate fallout looms. He cited historical parallels and cautioned that nine months before the election odds are unknowable, while polls show Democrats holding a two to one edge in potential House gains.
MENTIONED IN THIS ARTICLE
Washington
Nixon
Richard VanderVeen
Michigan
Gerald R. Ford
Gallup
Also Mentioned on This Page
High Point Enterprise
High Point Enterprise P.O
Radio City
New York
N.Y
Minnesota Paints
Minnesota
Ett
Omaxwear Ae Eee Paint
Southland
Somers
Gop
VanderVeen
House
Harry S. Truman
Thomas E. Dewey
White House
Sen
J. W. Fulbright
D-Ark
Truman
J. W. Leonard, Jewelers
VER
Se Sales & Service
Vacuum Center
W. Broad ST
Mar
N. Main St
U. S
U.S
Food and Drug Administration
Food and Nutrition Board
National Readery of Sciences
National Research Council
U.S. Department of Agriculture
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