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Chances are, your parents or in-laws are still living in a big, sprawling place that’s worth a ton more than they paid for it. If the mortgage is paid off — or close to it — they can’t squeeze much tax juice from the home other than property-tax deductions.

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{ 1 comment… read it below or add one }

lawyer February 13, 2013 at 9:10 am

The information in the lookback period is seriously out of date and currently erroneous.

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