Home Sale Cash: Divorced Spouse Wants Her Money Q: I was divorced back in 1999, My ex-husband kept the property we bought together. I didn't get a cent when he sold it. But, I also don’t remember signing off when he sold the property. I read that I should’ve signed a special warranty deed in [...]
What is a 1099S Form? Who do I get it from? Q: What is a 1099S form? I just sold my house and moved into a 55+ community. The community had an entrance fee. And, I now pay rent on my apartment every month. I want to be prepared for filing my 2024 taxes. My [...]
Home Sale Tax Exclusion: Residency Requirements What does the IRS really say about the home sale tax exclusion? Q: I read your column regularly and now I have a question for you. We own two houses. One is in Chicago, which we purchased in 2010. The other is in Arizona, which we purchased in 2012. We [...]
Passing Inspection Before Sale A reader wants to know how to avoid a village-required inspection that will require updates to their property Q: This may be a question for Sam. We live in a village that requires us to purchase transfer stamps in order to sell our home. But for us to get the stamp, [...]
Do we owe tax on the sale of our parents' home? Paying tax on the sale of your parents' home can be costly if you don't plan ahead. Q: My parents gave their house to their children but continued to live in it and pay all expenses related to the home. Life happened, and my [...]
