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URL:https://www.learndesk.us/class/4746122453057536/lesson/28b05de1bed6a56c170d2ed2472dd9ba?ref=outlook-calendar
SUMMARY:Federal Income Taxes
DTSTART;TZID=America/Los_Angeles:20260527T190000
DTEND;TZID=America/Los_Angeles:20260527T200000
LOCATION:https://www.learndesk.us/class/4746122453057536/lesson/28b05de1bed6a56c170d2ed2472dd9ba?ref=outlook-calendar
DESCRIPTION: 
Sale of real property
Principal residence
Investment real estate

Sale of real property
Capital gain. When real estate is sold, a taxable event occurs. If the sale proceeds exceed the original cost of the investment, subject to some adjustments, there is a capital gain that is subject to tax. If the sales proceeds are less than the original cost with adjustments, there is a capital loss. As discussed in the section on real estate investments, gain on sale is the amount realized from the sale, net of selling costs, minus the adjusted basis of the property, which is the beginning cost plus capital improvements minus exclusions and credits.
The tax law provides an exclusion of gain on a residential sale of $250,000 for an individual taxpayer and $500,000 for married taxpayers filing jointly. The exclusion of gain from the sale of a residence can be claimed every two years, provided the taxpayer meets ownership and use requirements. Losses are not deductible, and there is no...

https://www.learndesk.us/class/4746122453057536/lesson/28b05de1bed6a56c170d2ed2472dd9ba?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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