IRS Issues Rules for Home Sale ExclusionSilowMark L
Reports on the issuance of final regulations on the exclusion allowed for gain on the sale of a principal residence in the U.S. Conditions for married taxpayers to avail of the gain on the sale of a house; Discussion of the temporary regulations on the matter; Identification of the factors...
The article informs that Internal Revenue Service (IRS) of the U.S., has ruled that an individual's gifts to a tax-exempt social club will not be subject to gift tax, as long as the amount of the gifts in a calendar year does not exceed the annual exclusion amount. If individual ...