Can I claim my 12 years old step son as dependent on my income tax return?

[davew9128]

Tax law today is not remotely similar to what it was 30 years ago.

Oddly enough, three times this year I've had people ask me about rolling over the gain from the sale of their home within 2 years to defer that gain. Notwithstanding that this hasn't been good law in a QUARTER CENTURY, one of the people asking was barely alive when it was law. Weird stuff out there.

 

[LdiJ]

Oddly enough, three times this year I've had people ask me about rolling over the gain from the sale of their home within 2 years to defer that gain. Notwithstanding that this hasn't been good law in a QUARTER CENTURY, one of the people asking was barely alive when it was law. Weird stuff out there.

Oh I get that question now and again too. And I agree, there is wierd stuff out there.

 

[FlyingRon]

I just had to explain to someone it no longer worked that way as well. Fortunately for them, the gain is covered in the superseding principal residence exclusion (even if they didn't buy a replacement home).