mitch783
New Member

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.