1. AARP Foundation Tax-Aide Online Tax Assistance
  2. Income: wages, interest, retirement, sale of property, etc.
  3. Sale of Home and Other Assets

Sale of Home and Other Assets

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  • How does selling your home for a profit affect the income you report and your tax liability?
  • I am married and our house when sold will net about $400,000 in profit. We have lived here for 30 years. If I die before the house is sold, does my spouse lose the $250,000 exemption for me?
  • If I sell shares in a mutual fund and reinvest the proceeds in another fund from the same fund family, do I have to pay tax on any gain?
  • Last year I had some capital losses that exceeded the $3,000 maximum allowed. How do I get to use the remaining losses?
  • I invested in a company, and now all my shares are worthless. Can I carry the loss forward to coming years, or must I claim the loss this year?
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