Monthly Archives June 2018

The IRS posted Tax Tip 2018-83 with the following information about selling a home: Taxpayers who sell a home may qualify to exclude from their income all or part of any gain from the sale. Below are some things taxpayers should keep in mind when selling a home: Ownership and use. To claim the exclusion, the homeowner must meet the ownership and use tests. During a five-year period ending on the date of the sale, the homeowner must have: Owned the home for at least two years. Lived in the home as their main home for at least two years. Gain. Taxpayers
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2018 2nd Quarter Estimated Tax Payments are due on June 15, 2018.  Instructions and a payment voucher can be found here.  Checks should be written to the United States Treasury with Form 1040-ES listed on the memo line along with the taxpayer’s social security numbers.
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