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Financial Planning / Tax Strategies
|Subject: Re: Tax on sale of Grandma's home||Date: 1/9/2002 11:30 AM|
|Author: skain||Number: 56963 of 125208|
Thanks for you response.
The mortgage is with a bank. She could no longer afford the property after my Grandfather passed and I stepped up to support her. She is now moving to a senior citizen home.
Can I maybe claim her as a Dependent and have the home treated as primary residence for a Dependent?
If I must treat this a capital gains, is the tax implication similar to capital gains on stock?
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