Love,marriage And The Taxman
hi everybody,what a great ****Must participate a while before posting URL's*** learning so much,thank you.hope someone can help me with this ****Must participate a while before posting URL's***y girlfreind and i own a home together and are both on the deed.we are selling it very soon and it will be for about 500 thousand give or take.what are the tax laws in this situation,ive heard a couple of different things.any help with this would be greatly ****Must participate a while before posting URL's***hanks again
What will your profit be?
I am assuming that this property is your primary residence. In this case, assuming that it is your primary residence and that you have lived there for at least 24 months out of the last 60 months, then you would each be eligible for a $250,000 exclusion from capital gain taxes pursuant to Section 121 of the Internal Revenue Code.
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thank you very much for the replies.yes this is my primary residence for eight years and profit should be 350 to 400 thou.just got a little concerned about tax info i was getting about being married or ****Must participate a while before posting URL's***hanks for the expert ****Must participate a while before posting URL's***ving to gulf coast fl and coastal de,if anybody has any advice about either area would be much ****Must participate a while before posting URL's***hanks again for your time and ideas.
Most of the time you do best if you join a group of some sort. Try your local Chamber of Commerce or other business networking groups.
I, too am with Mattfish and Baileman, Do tell how you did it, and Congrats also, that is what we are all striving for. EB
Check with ALFA I have great coverage with them its blue cross/shield 350 a month for family of 4
and dont forget since you are(fixing to be) self employed nice tax deduction
Congrats on your Feedom!