Purposes of sales between related parties


Response to the following :

For purposes of sales between related parties, the taxpayer's parents are related because they are considered to be "family members," whereas the taxpayer's aunts and uncles are not.

In order to qualify for the exclusion on the sale of a main home, the taxpayer must have used the home as his or her main home for the two years leading up to the sale.

 

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Taxation: Purposes of sales between related parties
Reference No:- TGS02109506

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