Marketed as 'The Riviera of America' perhaps Niceville's name was chosen for Nice, France situated on a beautiful bay with a temperate climate along the French Riviera. As interest in the local area grew McCaskill marketed land along the Choctawhatchee Bay as The Vale of Paradise.
In the case of a sale or exchange of property by an unmarried individual whose spouse is deceased on the date of such sale, paragraph (1) shall be applied by substituting â$500,000â for â$250,000â if such sale occurs not later than 2 years after the date of death of such spouse and the requirements of paragraph (2)(A) were met immediately before ...
A: If you have no home office in your home and did not use any portion of your home for business purposes, when you sell your home current tax laws allow you to exclude up to $250,000 in profits, if you are single, or up to $500,000, if you are married, from the sale and not pay any taxes on that amount.: I had a home office for 6 months of 2003. I want to know if I convert the office back to residential purposes, how it will affect the capital gains when and if I sell the home. I have read that claiming a home office deduction can reduce the amount that is excluded from the taxes owed on any profit.