• take action: Plan Your Estate
  • Ask a Question

    Ask Harry a Question

    • This field is for validation purposes and should be left unchanged.

    Close
  • Books
  • Podcasts
  • Guides
  • Subscribe

    Subscribe to the Ask Harry blog

    Loading
    Close
Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself. Answers to your estate planning questions so you can take care of your family and yourself.
  • Ask a Question

    Ask Harry a Question

    • This field is for validation purposes and should be left unchanged.

    Close
  • Books
  • Podcasts
  • Guides
  • Subscribe

    Subscribe to the Ask Harry blog

    Loading
    Close

Archives

Tag Archives for: "$250000 capital gains tax exclusion"
Home /
 Can I Pass On My $250,000 Capital Gains Exclusion to My Heirs?
0
By Harry Margolis
In Real Estate
Posted May 2, 2025

Can I Pass On My $250,000 Capital Gains Exclusion to My Heirs?

Question: I’m 94 years of age and own a home in Massachusetts. When I pass, will my heirs be able to take the $250,000 federal deduction that I would have been entitled to if I have been [...]

READ MORE
 How are Capital Gain and Section 121 Exclusion Allocated on Sale of Life Estate?
0
By Harry Margolis
In Real Estate
Posted December 7, 2024

How are Capital Gain and Section 121 Exclusion Allocated on Sale of Life Estate?

Question: Can the Section 121 $250,000 capital gains tax exclusion apply when home is the remainderman’s principal residence? The property is in a life estate and both the life tenant and the [...]

READ MORE
 Will My Grandmother’s House Receive a Step-up in Basis?
0
By Harry Margolis
In Probate, Revocable Trusts
Posted March 8, 2024

Will My Grandmother’s House Receive a Step-up in Basis?

Question: I am  the successor trustee for my grandma who lives in Arizona. She has a home in California in her trust. I’m planning on selling the house when it’s time. My question is [...]

READ MORE
 How Much is the Tax on the Capital Gain on the Sale of House?
0
By Harry Margolis
In Real Estate, Revocable Trusts
Posted November 8, 2023

How Much is the Tax on the Capital Gain on the Sale of House?

Question: I created a living revocable trust and sold a house that was in the trust. The purchase price was $115,000 and we made improvements which cost $7,800, which brings the cost basis to [...]

READ MORE
 From a Tax Perspective, How Should House Be Dealt With Upon Divorce?
0
By Harry Margolis
In Real Estate
Posted June 30, 2023

From a Tax Perspective, How Should House Be Dealt With Upon Divorce?

Question: This is a divorce question regarding how capitol gain taxes apply if one spouse would like to “buy” the other spouse out. What is their tax basis after the divorce and is [...]

READ MORE
 Must We Pay Taxes on Capital Gain on Sale of House in Trust?
0
By Harry Margolis
In Irrevocable Trusts, Real Estate
Posted March 20, 2023

Must We Pay Taxes on Capital Gain on Sale of House in Trust?

Question: We recently sold my father’s home which was in a trust. My sister lived with my father from the 1990 until my father died in 2005, and continued to live at the property until 2022 [...]

READ MORE
 Will House Deeded to Spouse Just Prior to Death Receive Step-up in Basis?
0
By Harry Margolis
In Real Estate
Posted March 25, 2022

Will House Deeded to Spouse Just Prior to Death Receive Step-up in Basis?

Question: If two spouses deed their primary home, within one year of one spouse’s passing, from their living trust to the ill spouse, and the ill spouse had willed everything to a [...]

READ MORE
 Can My Parents Give Me Their Home as Compensation for Care I Provide Them?
0
By Harry Margolis
In Long-Term Care Planning, Real Estate
Posted February 21, 2020

Can My Parents Give Me Their Home as Compensation for Care I Provide Them?

Question: In California, can I have my parents deed their house to me as compensation for taking care of them? It has been 5 years and I am drowning. Response: I don’t practice in [...]

READ MORE
Categories
  • Asset Protection (37)
  • Charitable Giving (11)
  • Durable Powers of Attorney (52)
  • Estate and Gift Taxes (69)
  • Guardianship and Conservatorship (10)
  • Health Care Directives (14)
  • Housing and Urban Development (HUD) (1)
  • Irrevocable Trusts (76)
  • Long-Term Care Planning (192)
  • Non-Traditional Families (17)
  • Non-US Citizens (40)
  • Pets (6)
  • Practical Matters (17)
  • Probate (64)
  • Property in Other Countries (6)
  • Real Estate (117)
  • Retirement Plans (25)
  • Revocable Trusts (144)
  • Second Marriages (12)
  • Social Security (20)
  • Special Needs Planning (97)
  • Trustee (55)
  • Vacation Homes (5)
  • Wills (68)
© All Rights Reserved  |  Privacy Policy

Start typing and press Enter to search

Wondering if a trust makes sense for you?

This comprehensive guide provides all you need to know (in plain English).

Get the Book
(An Amazon Prime Reading selection)

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Read Sample Chapters

Wondering if a trust makes sense for you?

This comprehensive guide provides all you need to know (in plain English).

Harry Margolis book: The Baby Boomers Guide to Estate Planning

Get the Book
(An Amazon Prime Reading selection)

Read Sample Chapters

subscribe