Thankyou for the explanation on how & where to put the exclusion of $250,000. It also helped when you added the capital expenses & selling fees to the original cost basis; arriving at an adjusted cost basis.... Thankyou very much.
Thanks. Very helpful. In this example, if John was married and filing jointly, Form 8949 Line g would be (500,000)? or (318,550) to make column h zero?
I'm guessing that the inherited home (assuming it is a primary residence, and you meet the criteria for a full exclusion of $250,000 (per person) $500,000 (MFJ), the application of these principles would be the same.
very helpful and clear. Good job
Very helpful. Was very confused over how to do this.
Why IRS NEED TO KNOW ALL. THEY ARE MORE POWERFUL THAN THE GOVERNMENT ITSELF.
Thankyou for the explanation on how & where to put the exclusion of $250,000. It also helped when you added the capital expenses & selling fees to the original cost basis; arriving at an adjusted cost basis.... Thankyou very much.
Thanks. Very helpful. In this example, if John was married and filing jointly, Form 8949 Line g would be (500,000)? or (318,550) to make column h zero?
Finally I found a person that explains this matter very well.
What if you made no gains. Sold the house with a gift of equity to cover all costs. Made no money
Do a video on inherited home and 1099s .
I'm guessing that the inherited home (assuming it is a primary residence, and you meet the criteria for a full exclusion of $250,000 (per person) $500,000 (MFJ), the application of these principles would be the same.
Thank you, you explain very simple.
Glad it helped!