Individuals can exclude up to $250,000 of income from capital gains tax on the sale of their primary residence, thanks to the Internal Revenue Code (IRC) exclusion of home sales. Married...
Article Highlights:Keeping home improvement records Home gain exclusion amounts Records may be required to avoid taxIndividuals who meet the 2-out-of-5-year use and ownership...
The final regulations around the increased gift and estate tax exclusion amounts in effect from 2018-2025 has been issued finally by the Treasury Department and the Internal Revenue...