Senior Discount? (I'm not joking)

[Jose Guevarra]

Hi,

I had a seller say that he heard of a "senior discount" for sellers that are over 55 years of age. Do you know of any tax relief(deductions) that can be made for seniors that sell an SFR investment property in CA?

Thank You!

[Bob B.]

Years ago the IRS allowed an exemption for $125K gain if the homeowner was older than 55.  It was replaced with the new IRS rules.   No need to be an old person now for the exemption.

I get a senior discount at Kroger on Wednesdays.