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Do Senior Citizens Have to File a Return on the Sale of a House ...


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.

Does a Homeowner Have to Pay Capital Gain Tax From Selling a ...


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 ...

Limit Taxes on Capital Gains in Retirement-Kiplinger


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  ...

Capital Gains Tax Relief | US Tax Center - IRS.com


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.

Avoid Income Tax when you Sell your Home | Marshall, Parker ...


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.

Capital Gains Tax.....reducing (2013, sale, attorney, value ...


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 ...

Property Tax Exemption for Senior Citizens and Disabled Persons


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 ...

Publication 554 (2015), Tax Guide for Seniors - IRS.gov


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 .

IRS Issues Home Sale Exclusion Rules


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 ...

Over-55 Home Sale Exemption Definition | Investopedia


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 ...

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At What Age Can a Person Sell a House & Be Tax Exempt? | Home ...


Home sellers of all ages get capital gains exemptions. Historically, the federal government has promoted home ownership through various tax deductions.

Top Seven Senior Tax Breaks - FindLaw


We've compiled a list of the best tax breaks and benefits for seniors over the age of ... your tax deductions (meaning you do not take the standard deduction), you ... senior status or are retired is in the form of interest, dividends or capital gains ...

Top Seven Tax Deductions for Seniors and Retirees | Nolo.com


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.) ... 50 % of your adjusted gross income are deductible each year as an itemized deduction.