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I was just thinking about this today. I'm willing to bet political discussion of this will begin closer to election time.
I have heard that it may be extended but nothing official.
By the way many home owners will still not have to pay taxes on the gain. Most will still be covered under the "Main Home" exemption of $250,000 individual and $500,00 for a couple.
http://www.irs.gov/publications/p523/ar02.html#en_US_2010_publink10...
Here's a great explanation by someone much smarter than me :)
http://shortsalesuperstars.com/profiles/blogs/will-you-owe-taxes-on...
Love this! Thank you for sharing!!
Here in California..hoping. I bet "yes"..too much shadow inventory..
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