July 29, 2003 - admin

Divorce, houses, and tax

I gave an in-house speech yesterday to a prominent Los Angeles law firm that specializes in divorce work. The speech was about one piece of the messy intersection of family law and tax law: how the profit is taxed when the family home is sold.

Section 121 gives each person the ability to take — entirely tax-free — $250,000 of profit on the sale of a home. Given the dynamics of a divorce, it’s not always so easy to qualify for both halves of that $250,000 benefit.

A copy of my speech outline is here as a Word document, and as a PDF file. Download away.

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