Key Tax Planning Considerations for the Sale of a Residence

Valachi, Donald J.
April 1996
Journal of Financial Planning;Apr96, Vol. 9 Issue 2, p68
Academic Journal
This article focuses on several tax planning considerations that may permit individuals considering either marriage or divorce to maximize the use of the one-time $125,000 exclusion. Also reviewed are planning considerations for older homeowners wanting to sell their home and trade down to a smaller home. The final section of this article examines the situation of a homeowner's desire to convert a principal residence into a rental property in order to deduct a loss on a subsequent sale of his o her home.


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