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need tips on how to reduce capital gains of primary residence sold for $2.2M this month in California

Personal Finance & Money Asked by Doug Null on December 18, 2020

What all can we do to reduce the long term Fed & Calif
cap gains tax on our primary residence for 21 years?

All we can think of is:
depreciation and expense of original landscaping.

DETAILS…
House originally purchased in 1998 for $867k.
$50k original landscape in 1998-1999.
Married couple filing joint.
We now live in a 2nd home, in Calif, but were in residence of sold home for 3 yrs of past 5 yrs.
(sold home has been rented out since May 2019)

TURBO TAX FORECAST $240K IN TAX …
Used TT and temporarily, just to see diff, added sale of $2.2M house to our 2019 tax return and TT increased Fed + Calif. by $240k ie. the Ftax on sale of primary residence.

TAX CPU DAUGHTER WHO FORECASTS COULD BE $375K…
CPU Daughter used same data and predicts Fed+Calif tax could be $375k.

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