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Under the terms of the divorce agreement, T continued to live in the home until 1999, when it was sold for an $80,000 gain.
At that time, the house was sold and the proceeds divided equally between the parties.
Taxpayers who sell their homes for an amount exceeding the exclusion threshold, but who realize no gain on such sale, should maintain adequate documentation of their basis in the residence sold.
In Snowa,(26) the taxpayer and her ex-husband sold their jointly owned home and split the proceeds: thus.
If a new residence is acquired with resources from both spouses but title in the new property is held only by the spouse who previously sold a home, under Snowa, the taxpayer must be able to prove that any payment from the nonselling spouse was a gift or loan and that there is no legal obligation to transfer an interest in the property to that spouse.
M's basis was $100,000; she sold her home for $200,000.
In late 2000, she sold both Sappi (NYSE: SPP), a South African stock trading in the United States as an American Depositary Receipt, and Packaging Corp.
To make up the shortfall, some securities will have to be sold each year, which means you'll have to decide what to sell.
In addition to the classic designs like Les Paul, Gibson 335 or Fender Stratocaster, the company has some of its own guitar designs and they are made by the same company that makes some of the most expensive guitars sold by Gibson, for example.
And that vial of ``Melrose Place'' pool water - along with a letter of authenticity - sold for $51.
Some film props sold recently on Internet auction sites run by New Line and Universal studios, along with their selling price:
Her group has sold $16 million worth of art to date, and Balanciere now makes $150,000 annually.
Gloria Hilliard Mayfield sold $7 worth of cosmetics at her first Mary Kay demonstration.
sold more cars and trucks in California at the retail level than any other manufacturer during the 1995 calendar year, maintaining the top position GM regained from Ford in 1994.
31, 1995, GM sold 268,748 vehicles in California last year, up 9,649 units from 1994.