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Tax Issues When Selling a House After a Divorce
What are the tax consequences regarding a home sale if you and your spouse split up or divorce?
What are the tax consequences regarding a home sale if you and your spouse split up or divorce?
A frivolous claim is one that is used to support an unreasonable entry on your returns or the failure to file a return. Numerous such claims have been shot down by the IRS, as well as the courts, in recent years.
This marks the eighth year that the Security Summit partners have worked to raise awareness about these issues through the "Protect Your Clients; Protect Yourself" campaign.
Be aware, however, that this special tax treatment isn’t automatic. To qualify for Section 1244 treatment, the following four main requirements must be met.
Form 706-GS(D-1) is used by trustees to report certain distributions from a trust that are subject to the generation-skipping transfer tax (GSTT).
The AICPA supports altering the due dates for estimated tax payments, stressing that it would be better to more closely tie payment due dates to the normal quarter date, which is traditionally 15 days after the quarter end.
Here are several key points about the home sale exclusion that you should know about before you hand over the keys.
The IRS is reminding taxpayers that they may qualify for expanded home energy credits in 2023 (IR-2023-97, 5/4/23) There are two types of credits.