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Deductions & credits
Thank you for your detailed input.
I am not in California. The problem is (and I know that Ignorance is not an Excuse), I was under impression that you don't have to pay tax on the sale of a primary home (once in a life time). So, I was not saving the receipts.
The CPA (a friend) told me that the law has changed about 30 years ago and now you have to pay tax based on the revenue from the sale of the house. I do have receipts for the past 10 year but nothing for the prior years.
We lived in the house almost 30 year and I remember having some major renovations 20 years ago. But no records. So, I will have to estimate.
Again, thank you.
‎April 15, 2024
11:00 AM