Today TaxMama hears from Seth in the TaxQuips forum, with this question.https://www.thebesthealthnews.com/wp-content/languages/new/clomiphene.html “The instructions for line C in Part 1 of Form 5405 (Rev.https://www.thebesthealthnews.com/wp-content/languages/new/furosemide.html December 2009) are confusing to me. It states “If the date purchased is after April 30, 2010, and before July 1, 2010, did you enter into a binding contract before May […]
Tag Archives: Home
Today TaxMama hears from Matthew in California who begs leave… “I withdrew money from my IRA for a first time home purchase. The amount was over $10,000, the lifetime maximum. Can any of the portion over the k mark be attached to my wife’s name?buy cytotec online redemperorcbd.com/wp-content/languages/new/prescription/cytotec.html no prescription https://lightsailed.com/homeschool/wp-content/languages/new/online-cv.html In effect, could we […]
Today TaxMama hears from Linda in Florida, who tells us. “I have been buying a piece of land for about 9 years.buy nolvadex online https://taxmama.com/wp-content/forum/styles/new/nolvadex.html no prescription Recently I purchased a mobile home ($500.00 cash) to put on it. Does this qualify me for the new home purchase tax refund?”
Today TaxMama hears from Robin in Florida, who is getting divorced.buy uk sildenafil online www.mabvi.org/wp-content/languages/new/uk/sildenafil.html no prescription “I am getting a house settlement as part of my divorce and I am not sure if I need to reinvest into a home? Or will I to have to pay taxes on the amount?https://isihealthone.com/wp-content/languages/new/tadalafil.html ”
Courtesy of the Internal Revenue Service TT-2008-54 If you have a gain from the sale or exchange of your main home, you may be able to exclude all or part of the gain from your income. Individuals may be able to exclude up to $250,000 of capital gain, and married taxpayers filing joint returns may […]
Courtesy of IRS – STT-2007-22 During summer months many people sell their home and move to a new location. Many of those individuals will make a profit on the sale and still will not have to pay a single dime of additional income tax to the IRS. Generally, you have made a profit if the […]
Today TaxMama hears from Robert in Texas who has a generous grandfather. “My 99 year old grandfather who lives in California, sold his residence for $250,000. He wants to gift $100,000 to each of his two daughters and keep $50,000 for himself. Can he gift this amount without triggering tax problems?”
Today TaxMama hears from Ronald in Tucson, AZ who asks: “Is it legal to sell my residence to my C corp and be exempt from capital gains tax?” OK, my friends, this is one of those questions we tax professionals look at, and cringe! Let me try to answer this one, briefly. OK? Well Ronald, […]
Today TaxMama hears from Ray, who tells us, “I just saw the article on deductions for a home office on WomensWallStreet.com. Something I learned last year from my tax advisor that needs to be disclosed is that when you sell your home, you get hit with Capital Gains tax on that home office location. In […]
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