Tax Credits and Tax Deductions | TurboTax® Support

I'm selling my house to my spouse. He is using some of the equity as his downpayment. It's a gift from me to him. Is there a penalty/tax for either of us at some point?

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I live in Calif, I have owned my home 42 years, I paid $100,000 for it, now if i sell it at $900,000 will $300,000 be capital gains?

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4 Replies 152 Views

4 Replies

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Is "ItsDeductible" gone now?

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1 Reply

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Does TT have a software to aid with quarterly tax if increased income in Summer due to sale of home ?

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1 Reply 63 Views

1 Reply

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If you move prior to owning a home for 2 years but you are moving with your company out of state, do you still have to pay tax on capital gains?

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3 Replies 138 Views

3 Replies

138 Views

My 14 year old just started a part time job making $9 an hour. Should she file as tax exempt on her W4? I don't expect her to make more than the child tax credit.

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8 Replies 244 Views

8 Replies

244 Views

How do I edit cost basis of home sale

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1 Reply 89 Views

1 Reply

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Is there a way to track things on TurboTax after the tax deadline for the following year (eg, tracking donations, etc.) and then have that info automatically enter?

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2 Replies 122 Views

2 Replies

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Is there a negative tax implication (higher tax paid) for selling my foreign property on a 50% + 8 year (no interest) payment schedule to a buyer vs outright sale?

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5 Replies 180 Views

5 Replies

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If two friends purchase a home together (file separately) what is the mortgage interest deduction limit? $750,000 per person or $375,000 per person?

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2 Replies 120 Views

2 Replies

120 Views

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I'm selling my house to my spouse. He is using some of the equity as his downpayment. It's a gift from me to him. Is there a penalty/tax for either of us at some point?

I live in Calif, I have owned my home 42 years, I paid $100,000 for it, now if i sell it at $900,000 will $300,000 be capital gains?

Is "ItsDeductible" gone now?

Does TT have a software to aid with quarterly tax if increased income in Summer due to sale of home ?

If you move prior to owning a home for 2 years but you are moving with your company out of state, do you still have to pay tax on capital gains?

My 14 year old just started a part time job making $9 an hour. Should she file as tax exempt on her W4? I don't expect her to make more than the child tax credit.

How do I edit cost basis of home sale

Is there a way to track things on TurboTax after the tax deadline for the following year (eg, tracking donations, etc.) and then have that info automatically enter?

Is there a negative tax implication (higher tax paid) for selling my foreign property on a 50% + 8 year (no interest) payment schedule to a buyer vs outright sale?

If two friends purchase a home together (file separately) what is the mortgage interest deduction limit? $750,000 per person or $375,000 per person?

Do you have a TurboTax Online account?

Topics with Label: TurboTax Live Premier Online