Hi CPA, I bought my house in 1980 for $75,000.

Hi CPA,

I bought my house in 1980 for $75,000. I talked to realtor, and the realtor believes that my husband and I can sale the property for at least $300,000. Supposing that this is the case and we sale the property in May of 2023, what will the tax consequences be? We have lived in the house since we bought it and have put in about $35,000 of improvements that we have documentation for. Also, the realtor estimates about $25,000 of closing costs for the sale.

Thanks,

Client

Table of Contents

Calculate your order
Pages (275 words)
Standard price: $0.00

Latest Reviews

Impressed with the sample above? Wait there is more

Related Questions

New questions

Don't Let Questions or Concerns Hold You Back - Make a Free Inquiry Now!