The personal residence capital gain exemption provides married couples the ability to shelter up to $500,000 in tax-free gains (single, up to $250,000) from the proceeds of the sale of their ...

Avoiding capital gains tax: 121 home sale exclusion requirements. Primary residence: You must have owned and used the home as your primary residence for at least two of the five years leading ...

Deferred Gain on Sale of Home was a tax regulation, repealed in 1997, that allowed some of the tax on the profits of the sale of a home to be delayed by certain taxpayers.

United States, No. 1446, 1962 U.S. Dist. LEXIS 5176 (E.D. Ky. Mar. 27, 1962), the Tax Court reasoned that allocation was not required to an unborn because of the uncertainty of a successful ...

If they were to sell the home for $900,000 in 2013, however, the $100,000 profit above the tax-free amount would be hit by the 15% capital-gains tax and might be subject to the Medicare surtax, ...

Q. My father’s home in Florida was sold under an irrevocable trust, of which I am one of four beneficiaries. What federal and New Jersey taxes will apply? I have received a federal 1099 for the ...