Using Home Sale Proceeds for College Education

Q: I'm thinking about selling my house in downtown Brooklyn & buying another further in South Brooklyn outright (houses are cheaper there).

I was thinking of using any excess to fund my boys' college education (they're 10 and 6 right now). Is there any way I could maximize the amount set aside for them by avoiding capital gains?

Thank you--and please feel free to send me a brochure of your business.

A: If you are married, you and your wife each have a $250k exemption on the gain from the sale of your primary residence. So that means there wouldn't be any tax on $500k of gain...

Here's a report that will tell more about what I do...

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