Planning opportunities with the Sec. 121 Partial Exclusion.

Robert B. Cockrum; Maria T. Cabán-García; Maria T. Caban-Garcia

Planning opportunities with the Sec. 121 Partial Exclusion.

Robert B. Cockrum, Maria T. Cabán-García, Maria T. Caban-Garcia

University of South Florida

Research output: Contribution to journal › Article › peer-review

Abstract

Sec. 121 allows taxpayers to exclude up to $250,000 ($500,000 for married taxpayers filing jointly and surviving spouses) of gain from the sale of a principal residence. This article discusses the requirements to qualify for the exclusion of gain and the partial exclusion of gain available in certain circumstances to taxpayers that do not meet the requirements for the full exclusion.

Original language	American English
Journal	Default journal
State	Published - Jan 1 2008

Keywords

Tax exclusions
Income tax -- joint returns
House selling
Married people - taxation
Capital gains tax
Taxation

Disciplines

Accounting
Business

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Cite this

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title = "Planning opportunities with the Sec. 121 Partial Exclusion.",

abstract = " Sec. 121 allows taxpayers to exclude up to \$250,000 (\$500,000 for married taxpayers filing jointly and surviving spouses) of gain from the sale of a principal residence. This article discusses the requirements to qualify for the exclusion of gain and the partial exclusion of gain available in certain circumstances to taxpayers that do not meet the requirements for the full exclusion.",

keywords = "Tax exclusions, Income tax -- joint returns, House selling, Married people - taxation, Capital gains tax, Taxation",

author = "Cockrum, \{Robert B.\} and Cab{\'a}n-Garc{\'i}a, \{Maria T.\} and Caban-Garcia, \{Maria T.\}",

note = "Cockrum, R.B. \& Cab{\'a}n-Garc{\'i}a, M.T. (2008). Planning opportunities with the Sec. 121 Partial Exclusion. The Tax Adviser, 39(8), 508-514.",

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AU - Cabán-García, Maria T.

AU - Caban-Garcia, Maria T.

N1 - Cockrum, R.B. & Cabán-García, M.T. (2008). Planning opportunities with the Sec. 121 Partial Exclusion. The Tax Adviser, 39(8), 508-514.

PY - 2008/1/1

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N2 - Sec. 121 allows taxpayers to exclude up to $250,000 ($500,000 for married taxpayers filing jointly and surviving spouses) of gain from the sale of a principal residence. This article discusses the requirements to qualify for the exclusion of gain and the partial exclusion of gain available in certain circumstances to taxpayers that do not meet the requirements for the full exclusion.

AB - Sec. 121 allows taxpayers to exclude up to $250,000 ($500,000 for married taxpayers filing jointly and surviving spouses) of gain from the sale of a principal residence. This article discusses the requirements to qualify for the exclusion of gain and the partial exclusion of gain available in certain circumstances to taxpayers that do not meet the requirements for the full exclusion.

KW - Tax exclusions

KW - Income tax -- joint returns

KW - House selling

KW - Married people - taxation

KW - Capital gains tax

KW - Taxation

UR - https://digitalcommons.usf.edu/fac_publications/803

UR - https://login.ezproxy.lib.usf.edu/login?url=http://search.ebscohost.com/login.aspx?direct=true&db=bft&AN=502049734&site=ehost-live

M3 - Article

JO - Default journal

JF - Default journal

ER -

Planning opportunities with the Sec. 121 Partial Exclusion.

Abstract

Keywords

Disciplines

Access to Document

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