Home › Forums › Closed Forums › Buying and Selling RE › Pigg advice needed on corporate relo
- This topic has 80 replies, 9 voices, and was last updated 13 years, 6 months ago by Fearful.
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October 28, 2010 at 8:28 PM #625104October 29, 2010 at 9:00 AM #624170FearfulParticipant
[quote=Rich Toscano]
IIRC that $250k is prorated if you’ve been in less than two years (eg if you were in a year, the max is $125k).[/quote]
Correct, as I read http://www.irs.gov/publications/p523/ar02.html#en_US_publink1000200867This applies to certain circumstances, such as work based relocation.
Besides the gain exclusion, any capital improvements can be added to the cost basis of the house for the purposes of calculating the capital gains.
October 29, 2010 at 9:00 AM #624254FearfulParticipant[quote=Rich Toscano]
IIRC that $250k is prorated if you’ve been in less than two years (eg if you were in a year, the max is $125k).[/quote]
Correct, as I read http://www.irs.gov/publications/p523/ar02.html#en_US_publink1000200867This applies to certain circumstances, such as work based relocation.
Besides the gain exclusion, any capital improvements can be added to the cost basis of the house for the purposes of calculating the capital gains.
October 29, 2010 at 9:00 AM #624816FearfulParticipant[quote=Rich Toscano]
IIRC that $250k is prorated if you’ve been in less than two years (eg if you were in a year, the max is $125k).[/quote]
Correct, as I read http://www.irs.gov/publications/p523/ar02.html#en_US_publink1000200867This applies to certain circumstances, such as work based relocation.
Besides the gain exclusion, any capital improvements can be added to the cost basis of the house for the purposes of calculating the capital gains.
October 29, 2010 at 9:00 AM #624943FearfulParticipant[quote=Rich Toscano]
IIRC that $250k is prorated if you’ve been in less than two years (eg if you were in a year, the max is $125k).[/quote]
Correct, as I read http://www.irs.gov/publications/p523/ar02.html#en_US_publink1000200867This applies to certain circumstances, such as work based relocation.
Besides the gain exclusion, any capital improvements can be added to the cost basis of the house for the purposes of calculating the capital gains.
October 29, 2010 at 9:00 AM #625257FearfulParticipant[quote=Rich Toscano]
IIRC that $250k is prorated if you’ve been in less than two years (eg if you were in a year, the max is $125k).[/quote]
Correct, as I read http://www.irs.gov/publications/p523/ar02.html#en_US_publink1000200867This applies to certain circumstances, such as work based relocation.
Besides the gain exclusion, any capital improvements can be added to the cost basis of the house for the purposes of calculating the capital gains.
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