Ask a CPA: Selling a House and Tax Deductions

My wife and I lived in a home for more than 10 years. In August of 2014, we moved out and put it into service as a rental. We intend to sell the house when our current tenants move out (their lease is up at the end of August of 2015, but we've told them they can move out earlier if they want and they've indicated that they may).

Joel Stein Made Some Money And Got Some Back

Joel Stein did his taxes four times (whatever, Mike Dang did his three), and shares what he made and what he paid: •$399,101 in income (money earned for doing stuff) •$19,073 in dividends (money paid out to shareholders) •$1,312 in capital gains (money from increase in value of something you own, like stock or property or whatever) •$11,902 in refunds (which must be money from state returns that he wrote off last year? This seems to be some complicated rich person thing) For a grand total of: $431,388 He paid $127,826 in taxes and got a refund $469. In related news, Joel Stein is a rich person.