What is the name of your state? california
i am selling a house that i purchased for 242,000. i expect to make about 3 times what i bought it for. i will roll the taxable part of the gain over in a 1031 exchange, i lived in the house for several years then rented it out the last 2 and meet the requirements for an exchange. i also meet the requirements for the capital gains exclusion having occupied it 3 out of the previous 5 years.
i am looking for a free form that will help me determine the amount of taxable gain that takes into acount depcreciation, cost basis (and instructions) etc so that i can get a good estimate of what i have to roll over. i would also like to know what proceeds i will have that do not have to be rolled over as that is my retirement.
thank youWhat is the name of your state?
i am selling a house that i purchased for 242,000. i expect to make about 3 times what i bought it for. i will roll the taxable part of the gain over in a 1031 exchange, i lived in the house for several years then rented it out the last 2 and meet the requirements for an exchange. i also meet the requirements for the capital gains exclusion having occupied it 3 out of the previous 5 years.
i am looking for a free form that will help me determine the amount of taxable gain that takes into acount depcreciation, cost basis (and instructions) etc so that i can get a good estimate of what i have to roll over. i would also like to know what proceeds i will have that do not have to be rolled over as that is my retirement.
thank youWhat is the name of your state?