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I am newly widowed with a home valued at $335,000 and rented out for $1200 per month. There is still a mortgage of $78,000 on the home. My other income is $1615.09 from SS and pension. I live with my daughter and pay rent of $700 per month. With recession a possibility, should I retain my home as a rental or sell? It has been rented for the past 3 years as of June, 2007. Capital Gains tax is becoming an issue. I am 75 years old.
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