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.
Unlike the former once-in-a-lifetime exemption for seniors, IRS rules set no limit ...
Selling other real estate falls under prevailing capital gains tax rules, just as all ...
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
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.
Sep 2, 2013 ... Most seniors will not have to pay income tax when they sell their homes. ... trust”
qualifies for the capital gains exclusion when sold by the trust.
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 ...
Jan 1, 2016 ... If you are a senior citizen or disabled with your ... of the property tax exemption
program that helps .... Capital gains other than the gain from the ...
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
Unlike a previous once-in-a-lifetime exclusion for senior citizens, the new ... how
to determine if a home is a principal residence;; when gain from the sale of ...
The over-55 home sale exemption is an obsolete tax law that provided
homeowners over the age of 55 with a one-time capital gains exclusion.
Individuals who ...