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593 E Form 2019

2019-2025 Form

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Instructions and help about 593 E Form

- Hey guys! Toby Mathis here with Anderson Business Advisors. A question I get quite often is what to do when I sell my house to make sure that I pay no tax, and that one's pretty easy. There's something called a 121 exclusion which most people know that you have to have lived in the house 24 of the previous 60 months prior to selling, and you have to pass the ownership test. You have to own it when you sell it. And so, in English, it means that if I lived in the house, it's one of my primary residences, or my personal residence, and I had 24 months during that period of time, and it qualifies, then I could qualify, as a single person, a $250,000 exclusion against the gain, the capital gains, not depreciation recapture, that's important, against the gain on the home. Or if I'm married filing jointly, it's 500,000. So that's a big, huge capital gains exclusion that you definitely want to capture. Now, here's what sometimes

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CA FTB 593-E 2019
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CA FTB 593-E 2018
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CA FTB 593-E 2017
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