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
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Unfortunately you probably cannot claim additional interest expense on your Schedule A. However, you might be able to write off a portion for the business use
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Yes you will have to report this as income on your tax return(s). The administrator should have sent you information about how to report this. You should cont
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You will just have to run the numbers to see how it works out (factoring in the child tax credit, and possibly the earned income tax credit). Your father may v
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