Hello! I am a CPA here to assist you with your tax questions. My goal is to provide you with excellent service today.
How are you today? I'm sorry to hear about your loss.
or charitable remainder trust
Your parents would be exempt from the withholding if there is no taxable gain for purposes of California tax.
There is a gain
Well, unfortunately there is no other exemption available to them.
Ok. I will advise them that since there is a gain escrow will hold 3 1/3 of sales price.
I'm sorry that I didn't have better news to report.
Is there anything else that I can assist you with today?
That's ok ...I think if they would of sold after he passed that would of qualified for the two yr rule.
I think so too, but 2006 is a long time.
Thank you for your time.
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You got it.
Thanks so much