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- Title
8th Circuit Denies Home Sale Exclusion Due to Reacquisition of Principal Residence.
- Authors
VINCENT, SCOTT E.
- Abstract
The article discusses that Court of Appeals for the 8th Circuit affirmed a U.S. Tax Court decision regarding the home sale exclusion due to the reacquisition of triggered long-term capital gain. It mentions the Tax Court agreed with the U.S. Internal Revenue Service (IRS) not entitled to the principal residence exclusion with the buyer's indebtedness under the installment contract. It also mentions that the requirement of resale of a foreclosed principal residence.
- Subjects
HOME sales; CAPITAL gains tax laws; RESALE -- Law &; legislation; UNITED States. Internal Revenue Service; UNITED States. Tax Court; UNITED States. Court of Appeals (8th Circuit); ACTIONS &; defenses (Law)
- Publication
Journal of the Missouri Bar, 2015, Vol 71, Issue 5, p260
- ISSN
0026-6485
- Publication type
Article