Writing a resume for a professional position? Above is a professional resume sample to use as a reference when writing yours. This resume is for a sales job, however the resume structure can be used for any position. The layout is easy to read and flows well. If youâre still stuck, consider using the below help links for more information.
When you sell a house, you pay capital gains tax on your profits. There's no exemption for senior citizens -- they pay tax on the sale just like everyone else. If the house is a personal home and you have lived there several years, though, you may be able to avoid paying tax. The benefit isn't based on your age, though.
Most people age 70 are retired and, therefore, do not have any income to tax. Common sources of retiree income are Social Security and pensions, but it requires significant planning prior to the taxpayer turning age 70 in order to not have to pay federal income taxes. 1  There isn't an age limitation on paying taxes.