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There are two methods that California allows for determining the amount of tax that is to be withheld from the sales of a home.

mannysy
Level 1
 
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TaxMonkey
Level 8

Indeed, sometimes they are referred to as the Total Sales Price Method and the Optional Gain on Sale Election.

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3 Comments 3
TaxMonkey
Level 8

Indeed, sometimes they are referred to as the Total Sales Price Method and the Optional Gain on Sale Election.

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abctax55
Level 15

Manny....you really, really need to learn to use either your textbooks (do they still exist?) or the research material provided by your class/instructor.

THIS IS NOT THE PLACE FOR HOMEWORK ! ! ! 

"*******Tax software is no substitute for a professional tax preparer*******
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abctax55
Level 15

AND, you get to pick which one is the least offensive.

"*******Tax software is no substitute for a professional tax preparer*******
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