CAPITAL GAIN EXCEEDS $500k, MUST YOU PAY TAX ON EXCESS?
Can your excess gain, when selling your residence, be deferred into another property? Or, can it be treated as an Installment Sale, if you carry back the excess? 
I sure had a lot of takers on this one! If gain is greater than $500K Consider adding 1 or more kids to Title. Each person who owns and resided in ppty for 2 of the last 5 yr entitled to $250 gain taxfree!
If you already knew the answer, why did you ask the question?
I didn't know the answer, had to find it myself. You can see how long it took.[ Edited by pmatheson1 on Date 07/08/2003 ]
Actually, both your questions have been answered in the Tax Strategies Forum.
Sorry, it took you so long for you to get an answer, though from your most recent post, I am not sure your answer is the best. Adding children to the title creates a tax liability for your children (if the sale takes place before they have had two years of ownership) and a gift tax issue for you.
If your question had appeared in the Tax Strategies Forum you certainly would have received a quicker response.