 |  |
| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
|
|
July 30, 2010 Only Principal Residence Gain On Home Sales Can be ExcludedThe U.S. Tax Court ruled last month that capital gains received from the sale of a house cannot be excluded from taxable income unless the taxpayers owned and lived in the property for two of the past five years. In David A. Gates et ux., the Court had to weigh a unique case in which a new home was built on the site of a former residence... Subscribers have free access to the archives. Click here. |
|
