
Chapter 6 Income Taxes 101
Each of the unmarried owners of a shared primary
residence would qualify for the $250,000 exclusion if they met the other
qualifications. If Adam and Eve were unmarried but jointly owned the
home in which they lived together, each would be able to take a $250,000
exclusion from capital gains tax if they had lived in the home for two of the
five years immediately before the sale.
“Love Potion #9” A great song written by James Leiber and
Mike Stoller (who also wrote so many other popular songs including
“Jailhouse Rock,” “Stand By Me,” and “Charlie Brown”) that was a hit
for the Clovers and then the Searchers.
Reduced Exclu ...