X hits on this document

Powerpoint document

CCH Federal Taxation Basic Principles Chapter 11 Property Transactions: Nonrecognition of Gains and ... - page 28 / 66

173 views

0 shares

0 downloads

0 comments

28 / 66

CCH Federal Taxation Basic Principles

28 of  66

Sale of Home by Incapacitated Taxpayers

If an individual becomes physically or mentally incapable of self-care, the individual is deemed to use a residence as a principal residence during the time in which the individual owns the residence and resides in a licensed care facility (e.g., a nursing home).  In order for this rule to apply, the taxpayer must have owned and used the residence as a principal residence for an aggregate period of at least one year during the five years preceding the sale or exchange.

Chapter 11, Exhibit 8a

Document info
Document views173
Page views175
Page last viewedSat Dec 10 06:05:24 UTC 2016
Pages66
Paragraphs719
Words5391

Comments