Friday, June 8, 2018

Sale of Home Requirements

If you own your home but are unable to take care of yourself, here is something to think about. A taxpayer who has owned and used their home as their principle residence for at least 2 out of the 5 years leading up to the sale can exclude $250,000 or $500,000 if married on the gain when the home is sold, however the IRS has lowered the length of use requirement to 1 out of 5 years preceeding the sale for those who are in nursing homes.

No comments:

Post a Comment

Attorney Client Relationship

There are many important qualities in maintaining relationships that clients need when hiring a law firm.  Clients are looking for confidenc...