Selling your home

0

  • can sometimes result in very large long term capital gains
  • you can exclude $250k of those gains if
    • for the last 2 years prior to the date of sale you didn't exclude gains from another sale
    • during the last 5 years prior to selling you owned the home for at least 2 years and it was your primary home
    • for married couples this exclusion is 250*2, i.e. $500k

  • 0 posts
  • 0 subtopics
  • 15 days ago by vince