How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask R. Klein, EA Your Own Question
R. Klein, EA
R. Klein, EA, Enrolled Agent
Category: Capital Gains and Losses
Satisfied Customers: 263
Experience:  Over 20 Years experience in resolving tough tax cases
Type Your Capital Gains and Losses Question Here...
R. Klein, EA is online now
A new question is answered every 9 seconds

My father is 92 years old. We had to move him to assisted living.

Customer Question

My father is 92 years old. We had to move him to assisted living. He had to sell his home to pay for the assisted living. He is living on $2,000 of SS per month.
Does this qualify for an exemption from capital gains tax?
Submitted: 11 months ago.
Category: Capital Gains and Losses
Expert:  USTaxAdvising replied 11 months ago.
Did he live in the home as his primary residence for 2 out of the last five years?
Customer: replied 11 months ago.

Related Capital Gains and Losses Questions