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Recent Income Taxes Questions and Answers:

I Sold a house and made a profit, do i have to pay taxes on it
Section 121 excludes $250,000 per person if the following 2 tests are met: The individual must have owned and used the home as a principal residence for at lea more...

Married or Single Status
Your filing status is based on your December 31 status for that year more...

Tax deduction for online charity donation
You are corect. IRS Publication 506 says:"If your contribution entitles you to merchandise, goods, or services, including admission to a charity ball, banque more...

Not Sure the Do's and Dont' Please Help
A personal residence is just that, not an investment. Sadly, the law allows deductions for your mortgage interest and real estate taxes, but not any of the oth more...

Just married file joint or sep?
You don't provide enough information to advise you. What other income/losses/deductions might you have individually and separately? Do either of you have stud more...

Deduction of mortgage interest in tax claim form at work
Simply buying a house doesn't mean an additional exemption (I think that is what you mean is appropriate for you. Only you have the numbers to make that determ more...

Real Estate Sales Capital Gains Exemptions
This appears to be an "unforeseen circumstance" which might qualify for a reduced (prorated) exclusion. It is not listed under the safe harbor events but may b more...

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