Serbinski Accounting Firms

She did get a FMV on her home for some reason during the sale of her house. I don't have it in front of me, but seem to remember that it was about 760K. Going to get some professional help with filing all of this, but it is good to know some of the things you have taught us. We appreciate it. For so...

Thank you sir, for your help and much patience.

Thanks , If you think it's difficult trying to explain something to an idiot...try being the idiot. Hurts my brain. I am sure we will get a professional to help us stay out of trouble with this. Until then, Here some more fun: Looking at the letter that Canada Revenue sent. They said that the Adjust...

I just read at the IRS website that even though it was her principal residence and can exclude up to $250,000 of the net gain because of that. She still has to report it. Her net gain was $400,000. Minus the 250,000 exclusion. Evidently, she will be taxed 15% on $150,000. http://www.irs.gov/faqs/faq...

Thank you for the reply. I kind of thought you must have missed the correction. Now, we are getting somewhere. Just to clarify, are you saying that she does not have to report the Capital Gains in the US on the 1040? I guess I thought she would have to report the Cap Gains and then also apply a Fore...

[quote]The biogger quaestion is why did she have any cap gains to report on the sake of her former residence in canada. She had one year to sell it before any tax was due, and she did this. [/quote] One year from when? She moved here in December 2009. She really did not "report" the sale. ...

Correction: She has been with me in the US since december of 2009, not 2010.

Hello, I find this forum very informative. I do have a few questions and would be thankful for any and all replies. In 2011, my girlfriend (now wife since Feb 2012) has been filing 1040 as a US resident. She has been with me in the US since Dec 2010. In November of 2011, she sold her primary residen...