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2. Ask an Advisor: How Can We Avoid Capital Gains Tax on a ... - AOL

   www.aol.com/ask-advisor-were-inheriting-house...

   You are correct that the IRS lets individuals exclude up to $250,00 in profits from the sale of a primary residence from taxes. Married couples filing their taxes jointly can exclude up to $500,000.

3. Bargain and sale deed - Wikipedia

   en.wikipedia.org/wiki/Bargain_and_sale_deed

   Under common law, this type of deed technically created a use in the buyer who then gets the title. [3] Under the statute of uses, modern real property law disregards this subtle distinction. [citation needed] A bargain and sale deed is especially used by local governments, fiduciaries such as executors, and in foreclosure sales by sheriffs and ...

4. Schedule D: How to report your capital gains (or losses) to ...

   www.aol.com/finance/schedule-d-report-capital...

   Schedule D is an IRS tax form that reports your realized gains and losses from capital assets, that is, investments and other business interests. It includes relevant information such as the total ...

5. Capital gains tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Capital_gains_tax_in_the...

   From 1954 to 1967, the maximum capital gains tax rate was 25%. [12] Capital gains tax rates were significantly increased in the 1969 and 1976 Tax Reform Acts. [11] In 1978, Congress eliminated the minimum tax on excluded gains and increased the exclusion to 60%, reducing the maximum rate to 28%. [11]

6. Internal Revenue Code section 1031 - Wikipedia

   en.wikipedia.org/wiki/Internal_Revenue_Code...

   For real property exchanges under Section 1031, any property that is considered "real property" under the law of the state where the property is located will be considered "like-kind" so long as both the old and the new property are held by the owner for investment, or for active use in a trade or business, or for the production of income.

7. Stepped-up basis - Wikipedia

   en.wikipedia.org/wiki/Stepped-up_basis

   Section 2032 provides an alternate method of determining the property's new basis. If the property is not disposed of within six months of the decedent's death, the executor may elect to use the property's fair market value six months after the date of death but only if such an election results in a decrease in the value of the gross estate. [2]