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N Cal Atty
N Cal Atty, Lawyer
Category: Legal
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Experience:  attorney at self
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My husband sold his home in January 2016 for he paid

Customer Question

My husband sold his home in January 2016 for he paid 119.oooto the for capital gains, is that a sufficient amount or is that an overpayment.
Submitted: 8 months ago.
Category: Legal
Expert:  N Cal Atty replied 8 months ago.

Thank you for your question.

The answer is yes, the sale created a taxable capital gain, but you may be able to avoid it if you file a joint return, otherwise he can avoid the tax on $250,000 of the capital gain, see

I hope this information is helpful.