Will be divorced by the time our house goes up for sale.
I was just told by accountant here in Colorado that you take price you paid for the house originally and subtract the profit amount from the sale, then pay 20% tax on that. That would be a negative number wouldn’t it. Real estate usually appreciates doesn’t it? We paid $250,000. originally and my portion of the profit from the sale is $400,000. How do I figure this out?
