Elderly father sold his house...
- My 89-year-old father sold his house in 2022 and moved into assisted living. Does the sale of his house create a taxable event for him? He built the house for $100,000 in 2000. He sold the house for $360,000 in 2022. The house he sold is located near Houston, TX.The assisted living facility where he now lives is in the vicinity of El Paso, TX. His only regular income is social security, which amounts to approximately $22,000 annually.
‎November 16, 2022
9:06 AM
