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Help answer this question below.
My understanding of a rental used as personal home in 2 of the last 5 years before sale,is that it qualifies as your personal home and there are no tax consequences for any gain to $250,000 or $500,000 for a couple. I believe this applys here.
My father wants to give a onetime gift of $1 million of stock to his children split 6 ways. What are the tax implications for the children if they sell the stock, either immediately or after 1 year?
by apschiff@hotmail.com on March 19th, 2009
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I am selling my condo in NC (primary residence) for a $30K profit. I do not pass the two-year test, and I excluded a gain from a previous sale in May, 2009. However, I am selling to condo because I have taken a job in CA. Will I owe capital gains tax?
by sonoflar on January 21st, 2009
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I bought my house in 2000 for 240K and sold it in 2007 300K. do i have to pay captial gains tax for 2007?
by Anonymous on April 11th, 2009
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when do divorced couples no longer qualify for 500k tax deduction on capital gains on sale of real estate
by kcovey1002@aol.com on July 29th, 2010
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If my ex-husband buys me out of the home we have owned together for 17 years do I have to pay capital gains tax? I have lived in the house the entire time.
by Anonymous on March 8th, 2009
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You're reading We have lived in a home for 10 years, rented it out for 21/2 years, capital gain would be $75,000.00, can you deduct interest paid, taxes,insurance and cost of repairs etc from the gain?
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