USA Law and Practice Contributed by: Richard L. Rosen, Leonard S. Salis and Dennison Marzocco, Rosen Karol Salis PLLC
fied period of time. This tax benefit is particularly useful when selling heavily depreciated property. The federal tax code also provides for a capital gains tax exclusion in connection with the sale of one’s pri - mary residence. The exclusion is USD250,000 of profit for an individual, or USD500,000 of profit for married couples, filing jointly.
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