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Updated over 3 years ago on .
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Tax (CPA also?) help needed: selling sfh in WI; CO resident
Greetings;
I will be selling my sfh in Milw soon; this house was a rental for several years, but I have been living here for the past 3+ years. But I retained my CO residency where I have another house ("my" house). Need tax advice - maybe 1031 help? Do I need someone just familiar with WI taxes - or WI and CO taxes - or one of each?
The WI house will sell below $250k cap gains limit - if I claim that (should I claim that?).
Thanks
Kelly
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@Ashish Acharya - Thanks for the info. Don't think I'll have a problem showing this as my 'primary' residence as I haven't even set foot in my CO house in 3+ years (yikes! time does fly).
@Dave Foster - Shows you what I know about 1031s!! :-) (insert sheepish grin here).
so since each of you live in different states, neither of which is WI or CO - and you seem to know about these matters - does this mean I can ask "any" CPA/Tax pro about this issue? This sale will affect my WI state taxes, so maybe better to find a CPA/Tax person here before I leave?
Thanks
Kelly