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REGISTRATION FORM ST. JAMES EPISCOPAL CHURCH COMMUNITY FUN DAY, YARD SALE, AND CRAFT FAIR SATURDAY, SEPTEMBER 14, 2013 8 a.m. to 2 p.m. Please register by Monday, September 9, 2013. (Note: Vendor
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745(a) refers to the Internal Revenue Code section that deals with the exclusion of gain from the sale of a principal residence.
Individuals who have realized a gain on the sale of their principal residence may be required to file Form 745(a) with the IRS.
Form 745(a) can be filled out by providing details of the property sold, the purchase price, the sale price, and any allowable deductions.
The purpose of Form 745(a) is to calculate the gain on the sale of a principal residence and determine if any of that gain is excluded from taxable income.
Information such as the address of the property sold, the dates of purchase and sale, and any improvements made to the property must be reported on Form 745(a).
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