John M. Hoffman & Associates CPAs

Frequently Asked Tax Questions

Selling your home? 

 

• "What is the tax implication of selling my home?" 

• "Can I do this more than once, or just once in my lifetime?" 

• "What if I buy a replacement home and spend more money – doesn’t that effect the taxation of the gain?"

• "What if I didn’t live in the home for two years?"

• 'What about selling costs like the broker commission or improvements I made to the house?" 

 

Alternatively, Take a look at the IRS website: http://www.irs.gov/newsroom/article/0,,id=106951,00.html