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20 wrz 2024 · In Portugal's dynamic real estate market, staying informed about capital gains taxes is essential for property owners and investors. Recently, the Portuguese Government introduced pivotal changes to the IRS exemption rules, directly impacting capital gains from property sales.
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28 maj 2024 · Under section 7508A, the IRS gives affected taxpayers until Nov. 1, 2024, to file most tax returns (including individual, corporate, and estate and trust income tax returns; partnership returns, S corporation returns, and trust returns; estate, gift, and generation-skipping transfer tax returns; annual information returns of tax-exempt ...
19 wrz 2024 · If you sell on or after September 11, 2024, you only need to have lived in the property for one year to potentially avoid paying IRS on real estate capital gains. This shorter timeframe could be beneficial if you need to move sooner than initially planned.
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2 wrz 2024 · If you purchased a home within the last year and are contemplating selling, you might be eligible for an IRS exemption on capital gains. The most notable change is the reduction of the minimum holding period required to benefit from this exemption—from 24 months to just 12 months.
