Legal Question in Tax Law in California

Hello and thank you!

Sadly, I'm planning on selling my home of twelve years. As part of our divorce agreement i will split the estimated profit of $240K+ with my ex, leaving us each with roughly $120k.

Is there a timeline on reinvesting Capitol gains to avoid taxation?

And what if i reinvest in another state? Oregon, in this case.


Asked on 1/13/14, 11:14 am

1 Answer from Attorneys
William Christian Rodi Pollock

It sounds like you should each be covered by the $250,000 exemption available for income tax purposes if it is your primary residence. Talk with your return preparer.

Read more
Answered on 1/13/14, 1:56 pm


Related Questions & Answers

More Tax and Taxation Law questions and answers in California