Capital gains tax : primary residence exclusionStrauss, BenDe Rebus
If you cannot easily determine which residence is your main home, there are a number of factors to consider that will help you identify which one it is. Generally, the residence where you receive mail, the address listed on your tax returns and printed on your driv...
Living at home doesn't necessarily mean you have to be tethered to one place. For federal tax purposes, a boat or a recreational vehicle can be either your main or secondary residence, entitling you to take advantage of the same tax deductions as a homeo
There is a common misconceptionthat the sale of a person'sprimary residence will never result in capital gains tax being payable.This is incorrect. While for mosttaxpayers the sale of a primaryresidence will not result in a taxablecapital gain, there are howevercircumstances under which it will...
convert it into their primary residence for the next two years, sell it and once again pay little or no capital-gains tax. Under new law, most homeowners can sell their primary residence and exclude as much as $250,000 of the gain if they're single, or $500,000 if they're married ...
1997 tax changes: capital gains tax and sale of a primary residence.Jablow, Benjamin A