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I BOUGH A HOUSE FOR 60,OOO.00 AND REPAIRED IT AT A COST OF

Customer Question
51,000.--IF i SELL IT FOR...
I BOUGH A HOUSE FOR 60,OOO.00 AND REPAIRED IT AT A COST OF 51,000.--IF i SELL IT FOR 170,000 i WOULD HAVE TO PAY TAXES ON IT,
JA: The Accountant will know how to help. Please tell me more, so we can help you best.
Customer: i LIVE IN A HOUSE THAT IS OWNED BY ME AND MY X-WIFE JOINTLY AND
JA: Is there anything else important you think the Accountant should know?
Customer: PURCHASED IN 1963 AND IS PAID FOR. .DO I HAVE TO MOVE IN THE NEW
Submitted: 6 months ago.Category: Tax
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Answered in 11 minutes by:
5/11/2017
Tax Professional: Matthew Breecher, Certified Public Accountant (CPA) replied 6 months ago
Matthew Breecher
Matthew Breecher, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 286
Experience: Director
Verified

Hello, I would like to help you with your question. To clarify, this was a home you purchased and lived in for many years? Or, is the house you are selling a second property?

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