is sale of existing home sale proceeds table?
I sold some land I owned with my son and put about half of it into building a tiny home on my daughter's property. How much taxes will I need to pay?
We are about to close the sale of the property where we used to live. We now live in a different home which we purchased with proceeds of our retirement funds from our former employer. Are the sale proceeds of our old home taxable on this year's return?
Good question! Generally, the proceeds from the sale of the old home is taxable in the year it was sold.
