» TheLaw.com legal advice forum » Business, Finance & Contracts » Tax » Money earned in the sale of a home

Tax

 - 

Taxes, personal and business.


Tags
earned , home , money , sale

Reply
 
Thread Tools Display Modes
Old 03-09-2007, 02:14 PM   #1
magareb
Registered User
Member
 
Join Date: Jan 2006
Posts: 47
Thanks: 0
Thanked 0 Times in 0 Posts
Rep Power: 0 magareb is on a distinguished road
Points: 2,038, Level: 12
Points: 2,038, Level: 12 Points: 2,038, Level: 12 Points: 2,038, Level: 12
Recent Activity: 0%
Recent Activity: 0% Recent Activity: 0% Recent Activity: 0%
Money earned in the sale of a home

Jurisdiction/Place:

Last year friends of mine rec'd apx. 55K apiece frome the sale of their home. They are presently going through a divorce and are filing separately. They lived in the home over 5 years, do they have to pay taxes on that money??
magareb is offline   Reply With Quote
Reply

Bookmarks

Tags

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off

Forum Jump



IMPORTANT NOTICE: Nothing you read on The Law forums should be considered a substitute for professional assistance, including legal advice. The only legal advice you should accept is from a licensed legal professional with whom you have an attorney-client relationship. The Law Forums are intended to empower the average person with the benefit of the shared experiences of other consumers who have faced similar legal issues. Many of the posters are volunteers who may not have any legal training. The law may also vary in different states and jurisdictions from what you read here. All information and advice made available here is on an "AS-IS" basis. The Law Network, LLC does not warrant or guarantee the accuracy, completeness or usefulness of any material you read here, including the qualifications or titles of any person posting.