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Deductions & credits
sorry .... we closed on our Maine home 08/22/2023 and arrived in FL 08/25/2023 and closed in Florida on our new home 08/28/2023. Planning ahead for our 2024 tax returns. Maine allows a couple a $500k credit on taxable gains for real estate as long as they lived in the home at least 2 years and we were over 3. We are way under that credit amount.
We did have some taken out of our IRA's while we were in Maine.
‎November 9, 2023
3:42 PM