Legal Question in Tax Law in California

capital gains taxes on sale of home

Hello, my father owned/lived in his home for 10 yrs before selling it (due to disabilities from being the victim of a terrible accident). He is single and 66 yrs old. He moved in with me (daughter) for care. He only receives Social Security. Are there any capital gains tax exclusions for his situation beyond the $250k? Thank you


Asked on 1/04/07, 9:31 pm

1 Answer from Attorneys
Donald Field Donald L. Field, Jr., Attorney at Law

Re: capital gains taxes on sale of home

no. see:

http://www.irs.gov/publications/p523/index.html

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Answered on 1/09/07, 4:09 pm


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