Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProConnect Tax
- :
- ProConnect Tax Discussions
- :
- If a client sells a primary home and has capital gains of 1 million, and buys a home for 1.2 million how can I report the purchase to offset the sale?
If a client sells a primary home and has capital gains of 1 million, and buys a home for 1.2 million how can I report the purchase to offset the sale?
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
oceansidejan
Level 1
10-06-2022
02:36 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Labels
2 Comments 2
BobKamman
Level 15
10-06-2022
02:51 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
You’ve come to an Intuit site supporting tax professionals, and you may be looking for support as an individual taxpayer. Please visit the TurboTax Help site for support.
qbteachmt
Level 15
10-06-2022
07:01 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Are you asking about this:
"The only way you can shelter these funds is if you roll over the profit by buying a new house within two years from the day you sell your property. To completely shelter your profit, the new house must be equal to or greater than the value of your current residence."
Because that regulation went bye-bye in 1986.
*******************************
"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.
