ChiHoang
Level 5
12-07-2019
02:53 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
My client owned a home that he lived in until he died in 2013. The home was transferred to his estate in Feb, 2018. The home was sold in Feb. 2018 under his estate. My question is if the estate qualifies for $250,000 capital gain exclusion ?
Thank you for your answer
Best Answer Click here
Labels
George4Tacks
Level 15
12-07-2019
02:53 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
How was the property used from 2013-2018?
What was the value of the home when he died?
You really need to ask another question.
Answers are easy. Questions are hard!
What was the value of the home when he died?
You really need to ask another question.
Answers are easy. Questions are hard!
ChiHoang
Level 5
12-07-2019
02:53 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
From 2013 to 2018, his brother lived in that home. The home was appraised at $725,000 in 2013 when he died. His brother inherited that estate, the proceeds from the sale were transferred to the trust in 2019 with his brother is beneficiary.
ChiHoang
Level 5
12-07-2019
02:53 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
From 2013 to 2018, his brother lived in that home. The home was appraised at $725,000 in 2013 when he died. His brother inherited that estate, the proceeds from the sale were transferred to the trust in 2019 with his brother is beneficiary.
George4Tacks
Level 15
CROBERTMI
Level 1
02-25-2020
10:18 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
sold home at a gain
