Capital gain (by Zizi [CA]) Mar 25, 2024 12:55 PM
Capital gain (by plenty [MO]) Mar 25, 2024 5:21 PM
Capital gain (by Jim [CA]) Mar 25, 2024 6:08 PM
Capital gain (by Ray-N-Pa [PA]) Mar 25, 2024 8:25 PM
Capital gain (by Zizi [CA]) Mar 25, 2024 9:09 PM
Capital gain (by W [CA]) Mar 26, 2024 1:15 AM
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Capital gain (by Zizi [CA]) Posted on: Mar 25, 2024 12:55 PM Message:
If I include my son on my title deed, can we get the maximum allowable capital gain deduction.
Thanks
--104.175.xx.xx |
Capital gain (by plenty [MO]) Posted on: Mar 25, 2024 5:21 PM Message:
Wouldn't you ask your tax man? I'd like to know also. --172.59.xxx.xxx |
Capital gain (by Jim [CA]) Posted on: Mar 25, 2024 6:08 PM Message:
Check with a CPA and or an attorney to be sure adding your son won’t trigger a reassessment or tax event. --146.70.xxx.xxx |
Capital gain (by Ray-N-Pa [PA]) Posted on: Mar 25, 2024 8:25 PM Message:
There are different ways to place your sons name on title. If he is listed typically the capital gains is divided by two people. But the 250,000 and $500,000 exceptions in a 121 exchange are specific to married couples filing jointly.
If you are asking if having his name on the title will divide the capital gains, that is true......and if you filed the title as a TIC format (Tenants in Common) you can pass some of your wealth.
So the best answer I can give you is it depends on what you are trying to do and how you do it. --24.101.xxx.xxx |
Capital gain (by Zizi [CA]) Posted on: Mar 25, 2024 9:09 PM Message:
Thank you so much!! I really appreciate, you took your time to share your thoughts. --104.175.xx.xx |
Capital gain (by W [CA]) Posted on: Mar 26, 2024 1:15 AM Message:
Better hope your son never uses drugs or booze and gets into an accident. $$$ gone! --201.140.xxx.xx |
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