Sale of Primary Residence

We are frequently contacted by clients on the topics of the primary residence. Here are the most common questions that we get:

• • How much capital gain taxes do I expect to pay on the sale of primary residence?

• • What are the implications behind the “capital gain exclusion” and how do I qualify?

• • What deductions can I use to reduce capital gain taxes?

• • How do I qualify for a partial exclusion?

• • What is the non-qualified use?

• • Do I need to report on my tax return if I didn’t receive any tax forms? What is a 1099S?

• • What is the depreciation recapture and how do I make sure that I comply with the tax code?

• • What if the house was a rental property before becoming a primary residence?

• • What counts as capital improvements?

• • What is the cost basis vs. adjusted cost basis?

• • Does a divorce change the dynamic of a home sale?

• • What if I received a CP2000/3219A letter related to the home sale?

If you are planning to sell your primary residence or you have already sold your primary residence, plan ahead so you don’t miss out on strategies that could save you thousands in taxes. Simply contact us at any time. We have helped thousands of clients save taxes on their property sales.