Hi - can anyone elaborate on the $500K Capital Gains allowance?
I have owned the property for 5 years and plan to sell in the next year (I am planning to move to the US in the next 6 months).
(i) Is there anyway online I can calculate/check the capital gains with the official rules of what is allowed to offset the gains and appropriately consider the fx fluctuations
(ii) How do you qualify for the Married Capital Gains allowance? (Silly Question, but I am married to a US but the UK property is only in my name.) If we file joint married taxes in the US, will we that still qualify for the $500k Capital Gains allowance?
Is there anything else we need to consider to make sure we will be able to qualify for the Capital Gains Allowance?
I have owned the property for 5 years and plan to sell in the next year (I am planning to move to the US in the next 6 months).
(i) Is there anyway online I can calculate/check the capital gains with the official rules of what is allowed to offset the gains and appropriately consider the fx fluctuations
(ii) How do you qualify for the Married Capital Gains allowance? (Silly Question, but I am married to a US but the UK property is only in my name.) If we file joint married taxes in the US, will we that still qualify for the $500k Capital Gains allowance?
Is there anything else we need to consider to make sure we will be able to qualify for the Capital Gains Allowance?