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Tag Archives: code sec 121

*Tax Quips, Capital Gains Tax, Death, Estates and Trusts, Homeowners, Principal Residence, Step-Up in Basis

Personal Residence Exclusion after Death

Posted on March 20, 2012 by TaxMama

Today TaxMama® hears from Tina in the TaxQuips Forum with this convoluted question. “A person has resided in the same one-family residence in for the last ten years without any children or wife. This person was bound into an estate contract to sell his residence for $800,000 in November, 2011 when his tax basis in […]

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Posted in *Tax Quips, Capital Gains Tax, Death, Estates and Trusts, Homeowners, Principal Residence, Step-Up in Basis  |  Tagged *Tax Quips, best, Business/Finance, Capital gains tax, code sec 121, CPA, Death, decedent, Estate Tax, Executor, Fair market value, Finance, fiscal follies, Free, Income tax, Income tax in the United States, Internal Revenue Service, IRS News, jokes, Money Funnies, personal residence exclusion, Political economy, Property tax, Public economics, Real property law, step-up in basis, Stepped-up basis, Tax, tax answers, tax blogger, tax humor, Tax Information, tax jokes, tax podcast, tax questions, tax tips, tax writer, Taxation, TaxMama, terrific, top, USD Leave a comment
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