TaxAudit Blog

Tag: home sale

House with money stacks next to it

I'm inheriting $44,000 from my father's house being sold in New York. I just want to know how much tax, if any, would I have to pay in South Carolina. Thank You

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House being remodeled

My wife will be inheriting her father's home. We intend to sell our home and invest the proceeds to remodel this inherited property. What is the tax process?

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Capital Gains Tax

As long as you used the home as your main residence for at least 730 days during the last 5 years, you may be allowed to exclude up to $500,000 of capital gain.

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