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Sold as is Form

Sold as is Form

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Instructions and help about printable bill of sale as is no warranty

I want to capture 121 Capital gaining exclusion which allows you to sell your personal residence that you've lived in for two out of the past five years and exclude up to 250 000 now here's what happens when you take that installment sale so they may go to their CPA and the CPA will tell them if you do this you're going to be paying tax on all of that capital gains because you're not taking it all in year one you're spreading it out over 30 years so they'll tell them from a tax standpoint it doesn't make sense to do this here's what you tell them you say you can opt out of the installment sale treatment in year one and treat all of that gain as being recognized in year one which it won't be taxable to you because you can exclude up to 250 therefore as you receive those payments in the future they're completely tax-free so your CPA although he's correct he doesn't understand the right strateg

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