Combining the residential gain exclusion with a tax-free exchange

Article Abstract:

The tax implications of using a residential property for both personal and business use are discussed.

Usage, Housing, Dwellings, Tax policy, Home-based businesses, Home based businesses, Home offices

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Divorce and the new residence gain exclusion

Article Abstract:

There are several complexities in the Taxpayer Relief Act of 1997 governing the sales gain of principal residences. Real estate professionals, financial advisors, homeowners and tax consultants need to be aware of these changes. Divorce-related transfers are particularly onerous. Exclusions, rollovers and use requirements are more complicated.

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Increasing the residential gain exclusion with undivided and future interests

Article Abstract:

Homeowners can avoid reporting gains generated by the sale of a principal residence in their income tax returns by using undivided and future interests. The residential gain exclusion implies some legal requirements. Co-ownership of residences can significantly boost gain exclusion from income tax returns.

Public Finance Activities, Personal Income Taxes, Statistical Data Included, Economic aspects, Income tax, Personal income tax, Tax shelters, Joint tax returns

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