Skip to main content

Am I required to attach schedule D if the gain for the sale of my home can be totally excluded under section 121?

San Bernardino, CA |

The profit was 2000 , so it can be totally excluded . Do I have to include a schedule D showing the sales price and then mentioning the exclusion ?

Attorney Answers 2

Posted

If this item is discovered 5 years from now and assigned a 6 year statute of limitations and you have to do an audit will you be ready? Are you willing to risk this for the sake of a 0.2 oz piece of paper?

Is there some reason that you DON'T want the 3 year statute of limitations to start running?

Are you actively trying to provoke an audit?

over a 0.2 oz sheet of paper?

Please remember to designate your question's BEST ANSWER.

Please remember to designate your question's BEST ANSWER.

Curt Harrington
Certified Tax Specialist -- State Bar of California Board of Legal Specialization
Electrical-Chemical-Mechanical Patent (Intellectual Property) Attorney
(562) 594-9784
http://patentax.com
About Curt: http://patentax.com/curt/index.html
Visit the Library: http://patentax.com/library/

Curt Harrington Patent & Tax Law Attorney Certified Tax Specialist by the California Board of Legal Specialization PATENTAX.COM This communication is general information and not legal advice, and does not create an attorney-client relationship. This communication should not be relied upon as any type of legal advice. Please note that no attorney-client relationship exists between the sender and the recipient of this message in the absence of either (1) a signed fee contract and (2) remission of an agreed-upon retainer. Absent such an agreement and retainer, I am not engaged by you as an attorney, nor is any other member of my law firm.

Mark as helpful

4 lawyers agree

Posted

No. But why not do so, as the learned Mr. Harrington has already advised?

Mark as helpful

Tax law topics

Top tips from attorneys

What others are asking

Can't find what you're looking for?

Post a free question on our public forum.

Ask a Question

- or -

Search for lawyers by reviews and ratings.

Find a Lawyer

Browse all legal topics