When you sell a house, you pay capital gains tax on your profits. There's no
exemption for senior citizens -- they pay tax on the sale just like everyone else.
Check to see if you qualify for the 0% capital-gains tax rate. ... Taxable income is
what's left after you subtract personal exemptions (worth $3,900 each in ... If you
don't itemize, note that seniors 65 or older qualify for a larger standard deduction
Top Seven Tax Deductions for Seniors and Retirees .... (For more on this, see
Avoiding Capital Gains Tax When Selling Your Home: Read the Fine Print.) 3. ...
of your adjusted gross income are deductible each year as an itemized deduction
Aug 15, 2010 ... The Federal government provides a measure or capital gains tax relief ... local
governments also offer capital gains tax relief for senior citizens.
Are there any Capital Gains reductions for a senior citizen (widowed) ? I know
that there is 250000 tax exclusion for single person. I know that ...
Volunteer Income Tax Assistance and Tax Counseling for the Elderly. ... The AMT
exemption amount has increased to $53,600 ($83,400 if married filing ... to
exclude up to $500,000 of any gain from the sale or exchange of your main home
The age limit for very senior citizens is 80 years or more for A.Y. 2016-17 ...
receive a deduction of Rs. 30, 000 (only for senior citizens) (A.Y.2016-17)/ Rs.
20,000 .... The short term capital gains will be tax free if the basic threshold limit of
15% is ...
Learn more about the IRS rules for capital gains taxes on real estate. ... a tax
obligation unless their gain is huge," says Robert Trinz, senior analyst ... The
rollover or once-in-a-lifetime options were replaced with the current per-sale
An obsolete tax law that provided homeowners over the age of 55 with a one-
time capital gains exclusion. Individuals who met the necessary requirements ...
A few states exempt interest, dividends, or capital gains income received by
seniors. ... But many state income tax exemptions for elderly taxpayers apply only