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 Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 586
Experience:  10 years experience
Type Your Tax Question Here...
Wallstreet Esq. is online now
A new question is answered every 9 seconds

My wife, her mother and her sister are all on the deed and

Customer Question

Hello Pearl, my wife, her mother and her sister are all on the deed and are now selling a property in NY. It was until 3 months ago the mom's long-time principal residence. the sister lives in NY; we live in Georgia. I'm hoping that the nonresident tax, reported on Form2663 and the tax; will not be required because the property should be eligible for the section 121 exclusion.
JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?
Customer: if it is required, I hope that the 121 exemption will apply. I am at***@******.***
Submitted: 1 year ago.
Category: Tax
Expert:  Mark Taylor replied 1 year ago.

Hi, my name is Mark. I will be happy to help you with your questions.